Why Olink Shares Are Trading Lower Today?

Olink OLK shares are trading lower after the company announced pricing of a public offering of American Depositary Shares.

Olink yesterday announced the pricing of a public offering of 5,831,028 American Depositary Shares, each representing one common share of the company, consisting of 4,250,000 ADSs offered by the company and 1,581,028 ADSs offered by certain selling shareholders of the company, at a price to the public of $20.00 per ADS.

In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 874,654 ADSs from the company. The company will not receive any proceeds from the sale of the ADSs by the Selling Shareholders.

Olink is a company dedicated to accelerating proteomics together with the scientific community, across multiple disease areas to enable new discoveries and improve the lives of patients.

OLK Price Action: Olink has a 52-week high of $26.47 and a 52-week low of $8.39.

Olinke shares are down 17.8% at $19.76 at time of publication, according to Benzinga Pro.