LRMR - Larimar Therapeutics Announces Proposed Underwritten Public Offering | Benzinga
BALA CYNWYD, Pa., Feb. 13, 2024 (GLOBE NEWSWIRE) -- Larimar Therapeutics, Inc. ("Larimar") (NASDAQ:LRMR), a clinical-stage biotechnology company focused on developing treatments for complex rare diseases, today announced that it has commenced an underwritten public offering of shares of its common stock and, in lieu of shares of common stock to certain investors that so choose, pre-funded warrants to purchase shares of common stock. In addition, Larimar expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the securities to be sold in the proposed offering at the public offering price, less underwriting discounts and commissions. All shares of common stock and pre-funded warrants in the proposed offering are to be sold by Larimar. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the proposed offering.
Leerink Partners, Citigroup and Guggenheim Securities are acting as joint bookrunning managers for the proposed offering. LifeSci Capital is acting as lead manager for the proposed offering.
Larimar intends to use the net proceeds from the proposed offering to support the development of nomlabofusp (CTI-1601) and other pipeline candidates, and for working capital and general corporate purposes, including research and development expenses.
The proposed offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333- 268312) that was declared effective by the Securities and Exchange Commission ("SEC") on November 21, 2022. ...