Published on 24 May 2024 on Zacks via Yahoo Finance
Bicycle Therapeutics (BCYC) Up as PIPE Funding Set to Make $555M
Bicycle Therapeutics BCYC shares rallied 9.6% in the last trading session on May 23 after the company announced entering into a funding agreement with multiple institutional investors, new and existing, to issue and sell an aggregate of 25,933,706 American Depositary Shares (ADS) at $21.42 per share. Such impending transaction will be accomplished via a private investment in public equity (PIPE) financing.
Please note that one ADS of Bicycle Therapeutics represents one ordinary share of the company.