Vir Biotechnology Announces $150 Million Public Offering at $10 Per Share
Vir Biotechnology (VIR) has priced a public offering of 15 million shares of common stock at $10 per share. The transaction is expected to generate approximately $150 million in gross proceeds. Additionally, the company has granted its underwriters an option to purchase up to an additional 2.25 million shares within a 30-day period. The announcement follows a significant decline in the company's stock price, which dipped 15% as markets reacted to the dilutionary nature of the equity raise. The capital infusion will likely be used to support ongoing research and development operations.
Tickers: $VIR
Topics: Capital Raising Public Offering Stock Issuance
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