APLT - Applied therapeutics stock sinks on pricing $30M equity offering

Applied Therapeutics (NASDAQ:APLT) stock sank 24.3% after-hours on Wednesday after the firm has priced its underwritten public offering of 20.0M shares of its common stock, par value $0.0001/share, 10.0M pre-funded warrants to purchase common stock in lieu of common stock to certain investors, and accompanying warrants to purchase up to 30.0M shares of its common stock for an expected gross proceeds of $30M. Each share of common stock and accompanying common warrant are being offered at a combined public offering price of $1.00 and each pre-funded warrant and accompanying common warrant are being offered at a combined public offering price of $0.9999. The pre-funded warrants have an exercise price of $0.0001/share and the common warrants have an exercise price of $1.00/share; immediately exercisable and will expire five years from the date of issuance. Net proceeds from this offering will be used for general corporate purposes and working capital.

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Applied therapeutics stock sinks on pricing $30M equity offering