Reported Earlier, BioVie Raised $3M VIa Secondary Stock Offering Of 1.96M Shares At $1.53/Share
Portfolio Pulse from Benzinga Newsdesk
BioVie Inc. announced a secondary stock offering, raising $3 million by selling 1.96 million shares at $1.53 each. The funds will be used for working capital and general corporate purposes. The offering is expected to close on September 25, 2024.
September 24, 2024 | 6:57 am
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BioVie Inc. raised $3 million through a secondary stock offering, selling 1.96 million shares at $1.53 each. The proceeds will be used for working capital and general corporate purposes.
The secondary stock offering may lead to short-term downward pressure on BioVie's stock price due to dilution. However, the funds raised will support the company's operations, which could be positive in the long term.
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