Xencor Reports Pricing Of Public Offering Of 6.635M Shares Of Its Common Stock At $18.00 Per Share
Portfolio Pulse from Benzinga Newsdesk
Xencor has announced the pricing of a public offering of 6.635 million shares at $18.00 per share, along with pre-funded warrants for 3.08 million shares at $17.99 each. The offering is expected to raise approximately $175 million, which will be used for general corporate purposes.
September 11, 2024 | 10:34 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Xencor's public offering of 6.635 million shares at $18.00 per share and pre-funded warrants is expected to raise $175 million. The funds will be used for general corporate purposes.
The issuance of new shares typically dilutes existing shareholders' equity, which can lead to a short-term decrease in stock price. However, the raised capital can be beneficial for long-term growth if used effectively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100