AGTC - Applied Genetic Technologies secures ~$74.5M capital raise

Applied Genetic Technologies (AGTC) has priced its public offering of 16,741,573 common shares, together with accompanying warrants to purchase 8,370,786 common shares.The combined offering price $4.45 and expected gross proceeds are ~$74.5M.The five years warrants have an exercise price of $6.00/share. Net proceeds will be used to fund ongoing clinical trials, for working capital and other general corporate purposes.Closing date is February 1.Shares down 2.3% premarket.

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Applied Genetic Technologies secures ~$74.5M capital raise