Mustang Bio Announces Registered Direct Offering And Concurrent Private Placement; Issuance And Sale Of 6.13M Shares Of Common Stock At $0.41 Per Share In Registered Direct Offering; Additional 6.13M Unregistered Warrants In Private Placement; Offering Expected To Close On Or About June 21, 2024
Portfolio Pulse from Benzinga Newsdesk
Mustang Bio has announced a registered direct offering and a concurrent private placement involving the issuance and sale of 6.13 million shares of common stock at $0.41 per share. Additionally, 6.13 million unregistered warrants will be issued in the private placement. The offering is expected to close on or about June 21, 2024.
June 20, 2024 | 12:57 pm
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Mustang Bio is issuing 6.13 million shares at $0.41 per share in a registered direct offering and 6.13 million unregistered warrants in a concurrent private placement. This could lead to short-term dilution of existing shares.
The issuance of new shares and warrants typically leads to dilution of existing shares, which can negatively impact the stock price in the short term. Investors may react to the increased supply of shares and potential future dilution from the warrants.
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