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Benzinga
Benzinga
Business
Mohd Haider

Fractyl Health Drops 26% Pre-Market: What You Need to Know

Guts
A,Pen,Is,Placed,On,A,Book,Rankings(list),And,Stack

Fractyl Health Inc. (NASDAQ:GUTS) stock plummeted 26.74% to $1.37 during pre-market trading on Wednesday. This dip follows the company’s announcement of a proposed public offering.

What Happened: Fractyl Health, a Massachusetts-based metabolic therapeutics company, plans to offer shares of its common stock and pre-funded warrants to certain investors. Each share of common stock or pre-funded warrant will be sold with accompanying common warrants to purchase shares of common stock. The company also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of common stock and/or pre-funded warrants. Investors can buy these shares or pre-funded warrants at the same price as the original offering, minus any fees or commissions.

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