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BNTC - Benitec Biopharma plunges 40% on equity offering
Benitec Biopharma Limited
Benitec Biopharma (BNTC) prices an underwritten public offering of ~3.23M shares of its common stock at a price of $3.10/share for an aggregate gross proceeds of ~$10M.Underwriters have an option to purchase up to 483.9k additional shares.Net proceeds from the offering will be used for the continued advancement of development activities for its product pipeline and strategic growth opportunities.Closing date on or about October 6.Shares -40.57% PM.