Atara Biotherapeutics (ATRA) Stock Is Up 20%: What's Going On?
Portfolio Pulse from Henry Khederian
Atara Biotherapeutics (NASDAQ:ATRA) shares surged by 30.7% following the announcement of a $36 million registered direct offering. The offering includes 758,900 shares at $8.25 per share and 3,604,780 pre-funded warrants. The funds will be used for working capital and general corporate purposes. Greg Ciongoli from Adiumentum Capital will join Atara's Board of Directors.
September 04, 2024 | 4:02 pm
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Atara Biotherapeutics' stock rose 30.7% due to a $36 million direct offering priced at a premium. The funds will support working capital and corporate purposes, with a new board member from Adiumentum Capital.
The stock price increase is driven by the announcement of a direct offering at a premium, indicating strong investor interest. The addition of a new board member from a capital management firm further boosts investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100