Agenus (NASDAQ:AGEN) Stock Rockets 59% Premarket—But Its $340 Million Lifeline Could Nearly Triple the Share Count
Agenus Inc. surged 59.4% to $5.34 in premarket trading on Monday after agreeing to an $85 million private placement, a stock sale to selected investors, with warrants that could lift gross proceeds to $340 million. Warrants give holders the right to buy additional shares at fixed prices. The move came before the 9:30 a.m. market open, while Nasdaq futures were down about 1%.