Why is the Mesoblast share price crashing 9% today?
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The Mesoblast Ltd (ASX: MSB) share price has returned from its trading halt and dropped into the red.
At the time of writing, the biotech company’s shares are down 9% to $2.55.
Why is the Mesoblast share price sinking today?
The catalyst for today’s weakness has been news that Mesoblast has successfully completed a major capital raising.
According to the release, the allogeneic cellular medicines developer for inflammatory diseases has completed a global private placement primarily to its existing major US, UK, and Australian shareholders.
This has seen the high-flying company raise a total of A$260 million (US$160 million) at a price of A$2.50 per new share. This represents a discount of 11% to where the…
