Wave Life Sciences Announces $175M Proposed Public Offering Of Ordinary Shares and Pre-Funded Warrants
Portfolio Pulse from Benzinga Newsdesk
Wave Life Sciences Ltd. (NASDAQ:WVE) announced a $175 million public offering of ordinary shares and pre-funded warrants. The offering includes a 30-day option for underwriters to purchase an additional 15% of shares. J.P. Morgan and Leerink Partners are joint book-running managers.
September 24, 2024 | 8:01 pm
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Wave Life Sciences is conducting a $175 million public offering of shares and pre-funded warrants, potentially diluting existing shares. The offering is managed by J.P. Morgan and Leerink Partners.
The announcement of a public offering typically leads to a short-term decrease in stock price due to potential dilution of existing shares. The involvement of major financial institutions like J.P. Morgan and Leerink Partners adds credibility but does not negate the dilution effect.
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