Indication intelligence, analysis and sector perception

bluebird bio (BLUE) prices offering of 20 M shares at $6.00

January 18, 2023 10:19am

BLUE priced at $6.00, the aftermarket is up +$0.12 or +2.07%

BLUE also intends to grant the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of its common stock to be sold in the offering.

The offering, actual size and terms are subject to market conditions, and there can be no assurance as to whether or when the offering may be completed. All shares in the offering are to be sold by bluebird.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint book running managers for the offering.

The Bottom line: BLUE is following the usual path after announcing a public offering of 20 M shares – DOWN!

You would think that to safe some upside – announcing a pricing of shares would RETARD the slip to the downside.

52-week Low of $2.87 and a high of $8.58
50-day moving average: 7.44
200-day moving average: 5.64
Outstanding shares: 82.91 M shares
Float: 75.86 shares
Shares percent (%) of float: 29.40%
Cash: $139.63 M
Debt: $278.12 M
52-week Change: -3.58%
Shares Owned by Institutions: 81.78%
Shares Owned by Insiders: 1.12%

Pricing ... $6.00 to raise $120 M after expenses

35 companies, 1 interpreter!

Insight, foresight and recommendation

My motto … never leave an investor uninformed! I say today what others won’t, so you can do what others can’t.

My name is Henry McCusker; I endorse these opinions under my own name and with a subscription based membership.

Do you have an opinion you would like to share with us? We would like to hear from you.

Please e-mail us at hwm@regmedinvestors.com.

Editor and Publisher ... Henry McCusker enters his tenth (10th) year at RegMed Investors with past experience in sell-side analysis, buy-side management, corporate management and due diligence.

RegMed Investors (RMi) or Regmedinvestors.com content is the intellectual property of Henry McCusker. Any copying, republication or redistribution of RMI’s content, including by framing or similar means, is expressly prohibited without the prior written consent of Scimitar; who also shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. For additional information on other Scimitar media services or reposting please email hwm@regmedinvestors.com.

The information included above as well as individual companies and/or securities mentioned should be construed as guidance in RMi reviews.

The facts stated and the opinions given in this publication are based on data and information considered to be reliable and have been carefully worked into my qualitative analyses and prognoses. However, no guarantee can be given as to their fairness, accuracy or completeness.

Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.