GRTS - Gritstone bio to sell 6.6M shares for gross proceeds of ~$45M
- Clinical-stage biotechnology company Gritstone bio ( NASDAQ: GRTS ) will sell 6.6M shares, through private investment in public equity financing, at $2.26 per share.
- The securities purchase agreement that the company has executed to sell also involves 13.3M pre-funded warrants to purchase up to 13.3M shares at $2.26 per pre-funded warrant.
- The aggregate gross proceeds to be raised from the private placement will be ~$45M, before deducting placement agent fees and offering expenses.
- Each pre-funded warrant carries an exercise price of $0.0001 per share.
- The transaction is expected to close on Oct. 27.
- Net proceeds from the private placement are intended to be used to fund the ongoing clinical development of oncology and infectious disease programs and for general corporate purposes.
- GRTS shares were trading +6.19% pre-market.
- Source: Press Release
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Gritstone bio to sell 6.6M shares for gross proceeds of ~$45M