Private Placement has this Stock Looking Solid

January 8, 2024

DENVER, Colo., Jan. 8, 2023 (247marketnews.com)- Solid Biosciences Inc. (NASDAQ:SLDB) stated, this morning, that it entered into a securities purchase agreement with a select group of institutional accredited investors to sell 16,973,103 shares of common stock at a price of $5.53 per share and, in lieu of common stock, pre-funded warrants to purchase up to 2,712,478 shares of common stock at a price of $5.529 per pre-funded warrant. Each pre-funded warrant will have an exercise price of $0.001 per share, will be exercisable immediately and will be exercisable until exercised in full. The approximately $108.9 million private placement, which is expected to close this week.

Solid Biosciences is trading at $6.41, up $0.88 (+15.91%), on 4M shares traded.

Its 52-week range is $1.81 to $9.0399. Today’s $9.0399 high is also a new 52-week high and is trying to form a new base after a big pullback.

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