BNTC - Benitec Biopharma enters $7.5M bought deal offering

Benitec Biopharma (BNTC) has entered into an underwriting agreement with H.C. Wainwright of 1.76M shares at a price of $4.25/share, with expected gross proceeds of $7.5M.Company has also granted the underwriter a 30-day option to purchase up to an additional 264K shares.Intends to use the net proceeds for the continued advancement of development activities for its product pipeline, general corporate purposes, and strategic growth opportunities.The offering is expected to close on or about April 30, 2021.Shares down more than 1% post market.

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Benitec Biopharma enters $7.5M bought deal offering