ALPN - Alpine Immune sinks on disclosure of common stock offering by selling shareholders

After a rise of ~30.9% over the past four days, Alpine Immune Sciences ([[ALPN]] -14.4%) has lost more than a tenth in value today in apparent reaction to a regulatory submission announcing a common stock offering of ~7.7M shares by selling shareholders.The share offer also includes “shares issuable upon the exercise of warrants to purchase our common stock and shares issuable upon the exercise of prefunded warrants to purchase our common stock,” the company said.Alpine is not selling any of its common stock and will not receive any proceeds from the sale of common stock. However, it will receive gross proceeds of ~$22.7M in connection with a potential cash exercise of the warrants and pre-funded warrants.Alpine shares have risen more than fourfold in value over the past 12-month period and recently its Q1 2021 financials failed to meet the consensus.

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Alpine Immune sinks on disclosure of common stock offering by selling shareholders