Gamida Cell (NASDAQ:GMDA) stock is falling hard on Wednesday after the clinical-stage biopharmaceutical company announced major changes to its business in its fourth-quarter earnings report.
This big news here is the company entering into a Restructuring Support Agreement (RSA) with funds managed by Highbridge Capital Management. That will have Highbridge converting $75 million of unsecured convertible senior note into equity. It will also provide it with $30 million of new capital.
That will also result in Gamida Cell going private. The company will cancel all outstanding shares of GMDA stock. It will also issue contingent value rights with a maximum value of $27.5 million to these investors. These will be payable alongside certain milestones.
https://investorplace.com/2024/03/why-is-gamida-cell-gmda-stock-down-82-today/
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.