Longeveron shares are trading lower after the company announced a $9.0 million registered direct offering of 2.2 million shares of its common stock at $4.025 per share.
Portfolio Pulse from Benzinga Newsdesk
Longeveron shares are trading lower following the announcement of a $9.0 million registered direct offering of 2.2 million shares of its common stock at $4.025 per share.
July 18, 2024 | 4:22 pm
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Longeveron shares are trading lower after the company announced a $9.0 million registered direct offering of 2.2 million shares of its common stock at $4.025 per share.
The announcement of a registered direct offering typically leads to a dilution of existing shares, which can negatively impact the stock price in the short term. The offering price of $4.025 per share is also likely below the current market price, contributing to the downward pressure on the stock.
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