An update from Benitec Biopharma Ltd (BNTC) is now available.
Benitec Biopharma Inc. has entered into a Securities Purchase Agreement on April 17, 2024, with several institutional investors, agreeing to a private placement sale of over 5.7 million shares at $4.80 each and pre-funded warrants for approximately 2.6 million shares. The transaction, expected to close on April 22, 2024, will raise roughly $40 million in gross proceeds for the company before expenses. This financial move, involving significant investors such as Suvretta Capital Management and Franklin Resources, aims to bolster Benitec’s common stock and support its growth initiatives in the biopharmaceutical sector. Additionally, the company will enter into a registration rights agreement to register the new securities for resale post the closing date.
For an in-depth examination of BNTC stock, go to TipRanks’ Stock Analysis page.
