CBAY - CymaBay Therapeutics prices ~$75M offering

CymaBay Therapeutics (NASDAQ:CBAY) has priced its previously announced public offering of common stock and pre-funded warrants. The firm is offering 15,625,000 shares of common stock and pre-funded warrants to purchase 3,125,000 shares of common stock. The common shares are being sold at $4.00/share, while the pre-funded warrants are being offered at $3.9999 per underlying share, for an estimated gross proceeds of ~$75M. Net proceeds from the offering will be used to fund ongoing development of seladelpar and for working capital and general corporate purposes. Underwriters have been granted a 30-day option to purchase up to an additional 2,812,500 shares of the common stock. Offering is expected to close on November 22, 2021.

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CymaBay Therapeutics prices ~$75M offering