Mustang Bio Enters Agreement For Issuance And Sale Of 6.13M Shares At Purchase Price Of $0.41/Share In Registered Direct Offering
Portfolio Pulse from Benzinga Newsdesk
Mustang Bio has entered into an agreement for the issuance and sale of 6.13 million shares at a purchase price of $0.41 per share in a registered direct offering.
June 20, 2024 | 12:01 pm
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Mustang Bio has announced a registered direct offering of 6.13 million shares at $0.41 per share. This move is likely to dilute existing shares and could put downward pressure on the stock price in the short term.
The issuance of new shares typically dilutes the value of existing shares, which can lead to a decrease in the stock price. The offering price of $0.41 per share is also a key factor, as it may be lower than the current market price, further contributing to potential downward pressure.
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