PRAX - Praxis Precision secures $91.3M via equity raise

Praxis Precision Medicines (PRAX) has priced its public offering of 5M common shares at $18.25/share, for expected gross proceeds of ~$91.25M.Underwriters' over-allotment is an additional 750K shares. Net proceeds will be used for advancement of pipeline candidates and other programs, for working capital and other general corporate purposes.Closing date is May 18. BofA Securities, Cowen and Piper Sandler are acting as joint bookrunning managers, and Wedbush PacGrow is acting as lead manager for the offering.PRAX shares up 5.2% premarket trading at $19.75.Previously (May 11): Praxis Precision Medicines proposes 4M public offering

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Praxis Precision secures $91.3M via equity raise