Reported Earlier, Ionis Prices $500.3M Public Offering Of 11.5M Common Shares At $43.50/Share
Portfolio Pulse from Benzinga Newsdesk
Ionis Pharmaceuticals has announced a public offering of 11.5 million common shares priced at $43.50 each, raising $500.3 million. The proceeds will be used for commercial launches, clinical programs, R&D, and general corporate purposes.
September 10, 2024 | 7:35 am
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Ionis Pharmaceuticals has priced a public offering of 11.5 million shares at $43.50, raising $500.3 million. The funds will support various company initiatives including commercial launches and R&D.
The public offering increases the number of shares outstanding, which can dilute existing shareholders' value, potentially leading to a short-term decrease in stock price. However, the raised funds are intended for growth initiatives, which could be positive in the long term.
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