Mustang Bio shares are trading lower after the company announced a $2.5 million registered direct offering of 6.130 million shares at $0.41 per share.
Portfolio Pulse from Benzinga Newsdesk
Mustang Bio shares are trading lower following the announcement of a $2.5 million registered direct offering of 6.130 million shares at $0.41 per share.
June 20, 2024 | 12:12 pm
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Mustang Bio shares are trading lower after the company announced a $2.5 million registered direct offering of 6.130 million shares at $0.41 per share.
The announcement of a direct offering typically dilutes existing shares, leading to a decrease in share price. The offering price of $0.41 per share is likely perceived as low, contributing to the negative market reaction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100