INOVIO Pharmaceuticals Announces $75 Million Public Offering of Common Shares
INOVIO Pharmaceuticals (INO) has announced a public offering consisting of 58.7 million common shares priced at $1.05 per share, alongside pre-funded warrants for an additional 12.7 million shares at $1.049 each. The move is intended to raise approximately $75 million in capital. The announcement led to a decline in the company's share price as investors reacted to the potential for significant shareholder dilution resulting from the large volume of new shares being issued. The offering represents a strategic effort to bolster the company's liquidity position.
Tickers: $INO
Topics: common shares public offering share dilution warrants