PYPD - PolyPid proposes stock offering shares fall after hours

2023-03-28 16:25:18 ET

• PolyPid ( NASDAQ: PYPD ) said Tuesday it commenced an underwritten public offering of its ordinary shares.

• In addition, PolyPid intends to grant the underwriter a 30-day option to purchase up to an additional 15% of the number of ordinary shares.

• All of the ordinary shares in the offering are being offered by PolyPid.

• Other details regarding offer price and number of shares being offered were not disclosed.

• PolyPid intends to use the net proceeds from the offering to fund ongoing clinical activities and development of D-PLEX ₁₀₀ , working capital and other general corporate purposes.

• Newbridge Securities Corporation is acting as the sole book-running manager of the offering.

• Press Release .

• Shares -9.5% at $0.43 after hours.

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