CARGO Therapeutics shares are trading lower after the company announced it entered into a securities purchase agreement for a private investment in public equity financing that is expected to result in gross proceeds of approximately $110.0 million.
Portfolio Pulse from Benzinga Newsdesk
CARGO Therapeutics shares are trading lower after the company announced a securities purchase agreement for a private investment in public equity financing, expected to result in gross proceeds of approximately $110.0 million.
May 28, 2024 | 4:00 pm
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CARGO Therapeutics shares are trading lower after the company announced a securities purchase agreement for a private investment in public equity financing, expected to result in gross proceeds of approximately $110.0 million.
The announcement of a private investment in public equity financing often leads to a dilution of existing shares, which can negatively impact the stock price in the short term. This is likely why CRGX shares are trading lower.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100