Inovio Pharmaceuticals shares drop 25% following announcement of $75 million public offering
INO Inovio Pharmaceuticals Inc
$1.51 +24.28%
View chart & analysis → - 1Inovio shares recorded a 25% decline on Friday.
- 2Inovio Pharmaceuticals announced a public offering size of $75 million before deducting acquisition discounts, fees, and offering expenses.
- 3Inovio Pharmaceuticals confirmed a public offering of common stock and prepaid funding warrants at an offering price of $1.05 per share.
So what's the key point?
Inovio Pharmaceuticals announced it will issue new shares in a $75 million offering. The stock price fell 25% because the shares are being offered at a lower price.
Source Investing.com · View original ↗
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