Reported Earlier, Harmony Biosciences Shareholders Sell 8M Shares at $31 Each in Public Offering
Portfolio Pulse from Benzinga Newsdesk
Harmony Biosciences Holdings, Inc. announced the pricing of an 8 million share public offering by its shareholders at $31 per share. The company will not receive any proceeds from this sale.
October 31, 2024 | 8:09 am
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NEGATIVE IMPACT
Harmony Biosciences' shareholders are selling 8 million shares at $31 each in a public offering. The company itself will not receive any proceeds from this sale.
The sale of 8 million shares by existing shareholders could lead to a short-term decrease in stock price due to increased supply in the market. The company not receiving proceeds suggests no immediate benefit to its financials.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100