ALNA - Allena Pharmaceuticals upsizes bought deal offering to $13M

Allena Pharmaceuticals (ALNA) -9.8% premarket after saying it will increase the size of its previously announced $10M bought deal offering.The company has upsized the public offering of 10.4M common shares at $1.25/share, for gross proceeds of ~$13M (from $10M).Underwriters have also been given overallotment option for an additional purchase of 1.56M shares.The company intends to use the net proceeds for working capital and other general corporate purposes.The offer is expected to close on or about December 4, 2020.

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Allena Pharmaceuticals upsizes bought deal offering to $13M