Here’s Why Pacific Biosciences of California Stock Popped Today

1 min read

Shares of Pacific Biosciences of California (NASDAQ: PACB) surged 16% on Wednesday after the DNA sequencing leader said it obtained a strategic investment from Japanese technology conglomerate SoftBank Group (OTC: SFTB.Y)

Softbank subsidiary SB Management will purchase $900 million in convertible senior notes that it can convert into PacBio stock at a price of $43.50 per share. The notes mature on Feb. 15, 2028, and pay 1.5% interest annually.

Shares of Pacific Biosciences rose sharply on Wednesday following its deal with SoftBank. Image source: Getty Images.

Continue reading

Leave a Reply

Your email address will not be published.

Previous Story

SPX FLOW Inc (FLOW) Q4 2020 Earnings Call Transcript

Next Story

Eastgroup Properties Inc (EGP) Q4 2020 Earnings Call Transcript

Latest from Blog