Bicycle Therapeutics Reports $555M Private Placement Equity Financing; Says Financing Includes Participation From New And Existing Investors
Portfolio Pulse from Benzinga Newsdesk
Bicycle Therapeutics has announced a $555 million private placement equity financing through a PIPE deal, involving both new and existing investors. The company will issue and sell 25.933 million American Depositary Shares (ADS) and non-voting ordinary shares at $21.42 per share. The financing is expected to close on May 28, 2024, pending customary closing conditions.
May 23, 2024 | 11:16 am
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Bicycle Therapeutics has secured $555 million through a private placement equity financing, issuing 25.933 million ADS and non-voting shares at $21.42 each. The deal is expected to close on May 28, 2024.
The significant capital infusion of $555 million will likely provide Bicycle Therapeutics with substantial resources to advance its business operations and strategic initiatives. The issuance of new shares at $21.42 each indicates investor confidence and could positively impact the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100