TELA Bio Prices Offering Of 12M Shares At $2.25 Per Share And Pre-Funded Warrants To Purchase 5.8M Shares At Public Offering Price Of $2.2499 Per Pre-Funded Warrant; Gross Proceeds $40M
Portfolio Pulse from Benzinga Newsdesk
TELA Bio has announced a public offering of 12 million shares at $2.25 per share and pre-funded warrants for 5.8 million shares at $2.2499 each, aiming to raise $40 million in gross proceeds.
October 23, 2024 | 12:11 pm
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TELA Bio is conducting a public offering of 12 million shares at $2.25 each and pre-funded warrants for 5.8 million shares at $2.2499, with expected gross proceeds of $40 million.
The offering of new shares and pre-funded warrants is likely to dilute existing shareholders' equity, which typically exerts downward pressure on the stock price in the short term. The gross proceeds of $40 million indicate a significant capital raise, which could be used for growth or operational needs, but the immediate impact is likely negative due to dilution.
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