Reported Earlier, Vaxart Launches $40M Underwritten Offering Of 50M Common Stock At $0.80/Share
Portfolio Pulse from Benzinga Newsdesk
Vaxart has announced a $40 million underwritten offering of 50 million common stock shares at $0.80 per share. The offering is expected to close around June 17, 2024, pending customary closing conditions.
June 14, 2024 | 6:50 am
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Vaxart has launched a $40 million underwritten offering of 50 million common stock shares at $0.80 per share. This move is expected to raise significant capital but may dilute existing shares.
The issuance of 50 million new shares at a price of $0.80 each is likely to dilute the value of existing shares, which could lead to a short-term decrease in the stock price. However, the raised capital could be beneficial for the company's long-term growth.
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