ETNB - 89bio proposes $200M stock and warrants offering

2023-03-22 16:33:56 ET

• 89bio ( ETNB ) said Wednesday it commenced an underwritten public offering of $200 million of shares of its common stock, and pre-funded warrants to purchase its common stock.
• 89bio is expected to grant the underwriters of the offering an option for a period of 30 days to purchase up to an additional $30 million of shares of its common stock.
• The proposed public 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 as to the actual size or terms of the offering.
• All of the securities to be sold in the offering are being offered by 89bio.
• 89bio intends to use the net proceeds from this offering to fund ongoing clinical activities and development of pegozafermin, manufacturing scale-up and other general corporate purposes, including working capital and operating expenses.
• BofA Securities, SVB Securities and Evercore ISI are acting as book-running managers for the offering.
• Press Release .

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