Rani Therapeutics Holdings Prices $10.0M Registered Direct Offering Of 2.8M Shares And Pre-Funded Warrants At $3.08
Portfolio Pulse from Benzinga Newsdesk
Rani Therapeutics Holdings has announced a $10.0 million registered direct offering of 2.8 million shares and pre-funded warrants at a price of $3.08 per share.
July 22, 2024 | 12:31 pm
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Rani Therapeutics Holdings has announced a $10.0 million registered direct offering of 2.8 million shares and pre-funded warrants at a price of $3.08 per share. This could lead to short-term dilution of existing shares.
The direct offering will increase the number of outstanding shares, potentially diluting the value of existing shares. This often leads to a short-term decrease in stock price as the market adjusts to the increased supply.
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