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OTIC - Otonomy raises $30M capital via equity offering
Otonomy Inc.
Otonomy (OTIC) has priced its public offering of ~6.3M common shares at $2.25/share and, pre-funded warrants to purchase up to ~7.1M shares at $2.249/pre-funded warrant.Expected gross are ~$30.1M.Underwriters' over-allotment is an additional 2.01M shares. Cowen and Piper Sandler are acting as joint book-running managers.Closing date is April 12.Shares down 7.4% after-hours. Yesterday's close was $2.45.Previously (April 7): Otonomy shares drop 9% as company proposes capital raise (updated)