Orchestra BioMed Announces $75 Million Public Offering of Common Stock
Orchestra BioMed (OBIO) has priced an underwritten public offering consisting of 15 million shares of common stock at a price of $5.00 per share. The company expects to raise approximately $75 million in gross proceeds from this offering. In addition to the initial offering, underwriters have been granted a 30-day option to purchase up to an additional 2.25 million shares. Following the announcement of the offering, the company's stock price experienced an 11% decline.
Topics: capital raising common stock stock offering
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Part of the story Orchestra BioMed dips 11%, prices $75M public offering at $5 per share (3 articles)