ONCT - Oncternal Therapeutics slips 24% after upsizes $75M bought deal offering

Oncternal Therapeutics (ONCT) announced that the underwriter agreed to upsize of the previously announced offering and purchase on a firm commitment basis ~16.67M shares of common stock of the Company, at a price to the public of $4.50/share.Underwriters' over-allotment is an additional 2.5M units.Gross proceeds are expected to be ~$75.0M.Net proceeds will be used for general corporate purposes and for working capital.Offering is expected to close on or about December 14, 2020.Shares are down 24.1% PM.

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Oncternal Therapeutics slips 24% after upsizes $75M bought deal offering