AMAM - Ambrx Biopharma to launch ~$75M registered direct offering

2023-05-24 08:49:06 ET

• Ambrx Biopharma ( NASDAQ: AMAM ) is set to sell ~5.4M American Depositary Shares at $13.93 per ADS in an ~$75M registered direct offering.
• The biopharmaceutical company has entered into a securities purchase agreement with clients managed by Darwin Global Management.
• Darwin has agreed not to sell any securities for 6 months following the closing of the offering.
• The offering is expected to close on or around June 30.
• The proceeds are intended to be used to fund the research and development of its product candidates, and for working capital and general corporate purposes.
• AMAM shares were trading -4.78% pre-market.
• Source: Press Release

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