MeiraGTx Priced 12.5M Share Offering @$4.00/Share
Portfolio Pulse from Benzinga Newsdesk
MeiraGTx Holdings plc (NASDAQ:MGTX) announced the pricing of an underwritten offering of 12.5 million ordinary shares at $4.00 per share, expected to raise $50 million. Sanofi led the financing with a $30 million equity investment.
August 12, 2024 | 11:05 am
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MeiraGTx Holdings plc (NASDAQ:MGTX) announced a share offering priced at $4.00 per share, expected to raise $50 million. Sanofi led the financing with a $30 million investment.
The share offering is likely to provide MeiraGTx with significant capital, which can be used for further development and operations. The involvement of Sanofi as a lead investor adds credibility and confidence in the company's future prospects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Sanofi made a $30 million equity investment in MeiraGTx as part of the latter's $50 million share offering.
Sanofi's investment in MeiraGTx indicates a strategic interest in the genetic medicine company, which could lead to future collaborations or partnerships. This investment may positively impact Sanofi's stock as it diversifies its portfolio.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50