XCUR - Exicure rallies 41% on announcement to raise $5M in private stock offering

Exicure (NASDAQ:XCUR) agreed to sell 26.02M shares at a purchase price of $0.1937/share to certain accredited investors in a private placement in public equity financing. The purchase price represents an ~45% premium to 10-day volume weighted-average share price from May 9, 2022. Gross proceeds estimated to be ~$5M. Net proceeds to be used for supporting the development of the advancement of its preclinical program, including the development of its SCN9A product candidate, as well as other working capital and general corporate purposes. The closing of the private placement is expected to occur on or about May 19, 2022. Shares rallying 41.1% higher premarket.

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Exicure rallies 41% on announcement to raise $5M in private stock offering