HILS - Hillstream BioPharma proposes stock and warrants offering shares fall 20%
2023-04-27 16:18:17 ET
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Hillstream BioPharma ( NASDAQ: HILS ) said Thursday it intends to offer shares of its common stock, and/or pre-funded warrants in an underwritten public offering.
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All of the shares of common stock and/or pre-funded warrants are to be sold by HILS.
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ThinkEquity is acting as sole book-running manager for the offering.
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HILS will also grant the underwriter a 45-day option to purchase up to an additional 15% of common stock and/or pre-funded warrants to cover over-allotments, if any.
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Net proceeds from the offering will be used for the advancement of HSB-1216, for the development of other product candidates in its pipeline, among others things.
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Other pricing details and the number of shares or warrants being offered were not disclosed.
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Shares -20.2% at 87 cents after hours.
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Hillstream BioPharma proposes stock and warrants offering, shares fall 20%