Reported Earlier, Relay Therapeutics Prices $200M Public Offering Of 28,571,429 Common Shares At $7/Share
Portfolio Pulse from Benzinga Newsdesk
Relay Therapeutics has announced a public offering of 28,571,429 common shares at $7 per share, aiming to raise approximately $200 million in gross proceeds.
September 11, 2024 | 6:26 am
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Relay Therapeutics is conducting a public offering of 28,571,429 common shares at $7 per share, expected to raise $200 million in gross proceeds.
The public offering will increase the number of shares outstanding, potentially diluting existing shareholders' value. This could lead to a short-term decrease in stock price as the market adjusts to the increased supply of shares.
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