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.

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Source Fool.com