ProKidney Corp. Announces $125M Public Offering And Concurrent Registered Direct Offering Of Class A Ordinary Shares
Portfolio Pulse from Benzinga Newsdesk
ProKidney Corp. has announced a $125 million public offering and a concurrent registered direct offering of Class A ordinary shares. Additionally, underwriters have a 30-day option to purchase up to an additional 15% of the shares.
June 10, 2024 | 8:16 pm
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ProKidney Corp. has announced a $125 million public offering and a concurrent registered direct offering of Class A ordinary shares. Underwriters have a 30-day option to purchase up to an additional 15% of the shares.
The announcement of a public offering typically leads to a short-term decrease in stock price due to dilution concerns. The additional 30-day option for underwriters to purchase more shares could further amplify this effect.
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