Cardiol Therapeutics Announces Pricing Of $13.5M Public Offering Of 8,437,500 Common Shares At A Price Of $1.60/Share
Portfolio Pulse from Benzinga Newsdesk
Cardiol Therapeutics has announced a public offering of 8,437,500 common shares at $1.60 per share, raising $13.5 million. The proceeds will support the clinical development of CardiolRx and cover general expenses.
October 09, 2024 | 12:03 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Cardiol Therapeutics is raising $13.5 million through a public offering of common shares at $1.60 each. The funds will be used for the development of CardiolRx and other expenses.
The public offering at $1.60 per share may lead to short-term downward pressure on CRDL's stock price due to dilution. However, the funds raised will support the development of CardiolRx, which could be positive in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100