Codexis falls 20% after pricing $25M stock offering at $1.50/share
Seeking Alpha ·
Codexis ( CDXS ) priced a public offering of 16.67M common shares at $1.50/share, at the bottom of its marketed range. Gross proceeds are expected to be approximately $25M, with net proceeds of about $23.1M after underwriting discounts and commissions.
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Codexis shares plummeted 20% as it launched a public offering of 16.67 million shares at $1.50 per share. While the offering is expected to generate about $25 million in gross proceeds, pricing at the lower-than-expected end has severely dampened investor sentiment. Concerns over short-term share dilution are weighing on the broader sector.
하락 영향
- Biotech — Codexis's 20% plunge and low-priced offering highlighted funding concerns within the sector, worsening investor sentiment.
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DYAX Investor Sentiment
Bullish (Long) 36% · Bearish (Short) 64%
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