$150M Stock Offering Priced at $13.00/Share by Trevi Therapeutics
summarizeSummary
Trevi Therapeutics has announced the pricing of its underwritten public offering, selling 11.6 million shares of common stock at $13.00 per share to raise $150 million in gross proceeds. This development finalizes the capital raise that was initially proposed and detailed in a 424B5 filing on April 16th, following a PRE 14A filing on April 10th to increase authorized shares. The pricing at a discount to the current market price of $13.49 is dilutive for existing shareholders. This significant capital infusion, representing a material portion of the company's market cap, is expected to fund ongoing operations and advance its clinical pipeline, particularly the Haduvio Phase 3 trials for chronic cough. Traders will monitor the stock's reaction to the confirmed dilution and the closing of the offering.
इस घोषणा के समय, TRVI $13.49 पर ट्रेड कर रहा था NASDAQ पर Life Sciences सेक्टर में, और इसका मार्केट कैप लगभग $1.9 अ॰ था. 52-सप्ताह की ट्रेडिंग रेंज $5.38 से $14.75 रही। इस समाचार का मूल्यांकन नकारात्मक बाजार भावना और 10 में से 8 महत्व स्कोर के साथ किया गया। स्रोत: Reuters।