India, June 11 -- Humacyte, Inc. (HUMA) shares plunged 23.05 percent, losing $0.31 to $1.03 on Thursday, likely extending losses following the company's announcement yesterday, of a public offering of 47.62 million shares of common stock priced at $1.05 per share.
The stock is currently trading at $1.03, compared with its previous close of $1.34. During the session, it opened at $1.04 and traded between $1.00 and $1.10. Trading volume reached 14.08 million shares, well above its average volume of 7.52 million shares.
The commercial-stage biotechnology company expects to raise approximately $50 million in gross proceeds before expenses. Humacyte also granted underwriters a 30-day option to purchase up to an additional 7.14 million shares. ...