UBX - UNITY Biotechnology trades lower on pricing upsized $45.0M securities offering
- UNITY Biotechnology ( NASDAQ: UBX ) is down 4.95% after-hours after the firm has priced an upsized underwritten public offering of 64,285,714 shares of its common stock and accompanying warrants to purchase up to 64,285,714 shares of common stock at a combined public offering price of $0.70/share and accompanying warrant.
- The warrants have an exercise price of $0.85/share, are exercisable immediately, and will expire five years following the date of issuance.
- The gross proceeds to UNITY from the offering are expected to be ~$45.0M.
- All of the securities are being offered by UNITY.
- Offering is expected to close on August 22, 2022.
- Net proceeds from the offering will be used to fund the ongoing clinical development of UBX1325, including the BEHOLD and ENVISION studies, and other general corporate purposes, including working capital, operating expenses and capital expenditures.
- Earlier, Unity Biotech sheds 9% on $25M common stock offering .
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UNITY Biotechnology trades lower on pricing upsized $45.0M securities offering