IFRX - InflaRx announces public offering of ordinary shares

2023-04-11 16:23:04 ET

• Shares of German biotech InflaRx N.V. ( NASDAQ: IFRX ) held steady in the post-market trading even after the company announced the launch of an underwritten public offering of its ordinary shares.
• The company said the offering is subject to market and other closing conditions and added that there is no assurance whether or when it will be completed or regarding its terms and actual size.
• A decision to grant a 30-day option for underwriters is also under consideration, allowing them to purchase additional shares at the public offering price minus the underwriting discount.
• InflaRx ( IFRX ) intends to use the net proceeds to fund a range of operating activities, including further research into its lead candidate, vilobelimab, and working capital and general corporate purposes.
• The company has selected Raymond James as the book-running manager for the offering, while LifeSci Capital serves as co-manager.

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