Mereo BioPharma Discloses Pricing of $50M Underwritten Registered Direct Offering of American Depository Shares, At A Price Of $3.99 Per ADS; Each ADS Represents Five Ordinary Shares Of Mereo
Portfolio Pulse from Benzinga Newsdesk
Mereo BioPharma has announced the pricing of a $50 million underwritten registered direct offering of American Depository Shares (ADS) at $3.99 per ADS. Each ADS represents five ordinary shares of Mereo.
June 14, 2024 | 11:54 am
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Mereo BioPharma has priced a $50 million underwritten registered direct offering of ADS at $3.99 per ADS. This move could lead to short-term dilution of existing shares, potentially impacting the stock price negatively.
The issuance of new shares typically leads to dilution of existing shares, which can negatively impact the stock price in the short term. The offering price of $3.99 per ADS sets a benchmark for the market.
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