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Why Seres Therapeutics Stock Surged Today

TheMotleyFool

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Why Seres Therapeutics Stock Surged TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/c28f6640-54ba-4d2b-afbe-b5fd3b0ee19e.png

Shares of Seres Therapeutics (NASDAQ: MCRB) jumped 21% on Thursday after the biotech company announced the details of its capital raise.

Seres will sell 10.5 million shares for $21.50 per share. Underwriters have the right to sell an additional 1,575,000 shares at the same price. Notably, Seres will also sell 959,002 shares to international food titan Nestle (OTC: NSRGY).

Seres Therapeutics' stock rose sharply on Thursday after raising a boatload of cash from investors. Image source: Getty Images.

Source Fool.com

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