Arcus Biosciences Announces $250 Million Public Offering of Common Shares
Arcus Biosciences (RCUS) has priced a public offering of 14,285,715 common shares at $17.50 per share. The transaction is expected to generate approximately $250 million in gross proceeds. Underwriters for the offering have been granted a 30-day option to purchase additional shares. Following the announcement of the offering, Arcus Biosciences' stock price experienced a pre-market decline of approximately 6%. This movement reflects typical market reactions to equity dilution associated with new share issuances.
Tickers: $RCUS
Topics: capital raising public offering stock price movement
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Part of the story Arcus Biosciences Shares Drop 20% Following Stock Offering and Kidney Cancer Clinical Data (2 articles)