PNT - POINT Biopharma Global stock slides on pricing ~$125M stock offering
- POINT Biopharma Global ( NASDAQ: PNT ) shares dropped 9.6% after-hours on Tuesday after pricing its public offering of 13.9M shares of common stock at a public offering price of $9.00/share for expected gross proceeds to be ~$125M.
- Underwriters are granted a 30-day option to purchase up to an additional 2,085,000 shares of its common stock.
- All of the shares to be sold in the offering are to be sold by POINT.
- Offering is expected to close on or about September 16, 2022.
- Net proceeds from the proposed offering, together with its existing cash, cash equivalents and investments will be used to fund clinical and preclinical research and development programs, pre-commercialization activities, and for working capital and other general corporate purposes.
- Earlier, Point Biopharma plummets on announcing common stock offering .
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POINT Biopharma Global stock slides on pricing ~$125M stock offering