ALNA - Allena Pharmaceuticals announces $10M bought deal

Allena Pharmaceuticals (ALNA) announces bought deal offering of 8M shares at $1.25/share, compared to the stock's yesterday close of $1.35. Gross proceeds expected to be ~$10M. Underwriters have also been given overallotment option for an additional purchase of 1.2M shares.The company intends to use the net proceeds for working capital and other general corporate purposes. Offering is expected to close on or about Dec. 4, 2020. Stock up 0.75% AH.Previously: Allena Pharma's ALLN-346 shows encouraging action in early-stage study (Nov. 30)

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Allena Pharmaceuticals announces $10M bought deal