Why Seres Therapeutics Stock Surged Today
Shares of Seres Therapeutics (NASDAQ: MCRB) jumped 21% on Thursday after the biotech company announced the details of its capital raise.
Seres will sell 10.5 million shares for $21.50 per share. Underwriters have the right to sell an additional 1,575,000 shares at the same price. Notably, Seres will also sell 959,002 shares to international food titan Nestle (OTC: NSRGY).
Seres Therapeutics' stock rose sharply on Thursday after raising a boatload of cash from investors. Image source: Getty Images.
Source Fool.com
