Wave Life Sciences shares are trading lower after the company announced the pricing of its upsized $200 million offering of 23.1 million shares at $8 per share.
Portfolio Pulse from Benzinga Newsdesk
Wave Life Sciences shares fell after the company announced a $200 million offering of 23.1 million shares priced at $8 each.
September 26, 2024 | 5:17 pm
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Wave Life Sciences shares declined due to the announcement of a $200 million offering of 23.1 million shares at $8 per share, which can dilute existing shareholders' value.
The announcement of a large share offering often leads to a decrease in stock price due to potential dilution of existing shares. The $200 million offering at $8 per share suggests a significant increase in the number of shares, impacting the stock negatively in the short term.
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