Precigen Announces $79.0 Million Private Placement Offering of Convertible Preferred Stock
Portfolio Pulse from
Precigen, Inc. has announced a $79 million private placement offering of its 8.00% Series A Convertible Perpetual Preferred Stock. This move is part of their strategy to raise capital for their biopharmaceutical endeavors.
December 27, 2024 | 2:15 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Precigen, Inc. is raising $79 million through a private placement of its 8.00% Series A Convertible Perpetual Preferred Stock. This capital raise is likely aimed at supporting its gene and cell therapy projects.
The private placement of convertible preferred stock provides Precigen with significant capital, which can be used to advance its biopharmaceutical projects. This financial boost is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100