Ultragenyx Pharmaceutical shares are trading lower after the company priced a $350 million public offering of 7,435,898 shares at $39 per share and prefunded warrants.
Portfolio Pulse from Benzinga Newsdesk
Ultragenyx Pharmaceutical shares are trading lower after the company priced a $350 million public offering of 7,435,898 shares at $39 per share and prefunded warrants.
June 14, 2024 | 3:15 pm
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Ultragenyx Pharmaceutical shares are trading lower following the announcement of a $350 million public offering priced at $39 per share and prefunded warrants.
The public offering dilutes existing shareholders' equity, which typically leads to a decrease in share price. The market's immediate reaction is negative, reflecting concerns over dilution.
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