CBAY - CymaBay prices upsized public offering of common stock and pre-funded warrants
2023-09-12 06:48:45 ET
- CymaBay Therapeutics ( NASDAQ: CBAY ) prices public offering of 12,551,080 common shares at $17.13 per share and 583,771 pre-funded warrants at $17.1299 per underlying share for total gross proceeds of ~$225M. The pre-funded warrant has an exercise price of $0.0001 per share.
- The underwriters has a 30-day option to purchase up to an additional 1,970,227 shares of its common stock.
- Closing date is September 14.
- Net proceeds will be used to fund ongoing development of seladelpar, including clinical trials targeting market expansion, and for working capital and general corporate purposes.
- CBAY +2.15% premarket to $17.5
- Source: Press Release
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CymaBay prices upsized public offering of common stock and pre-funded warrants