VECT - VectivBio prices $30M follow-on stock offering

VectivBio Holding (NASDAQ:VECT) has priced a follow-on public offering of 5.72M ordinary shares at a price of $5.25/share for aggregate gross proceeds of ~$30M. Underwriters are granted a 30-day option to purchase up to an additional 857,250 ordinary shares at the public offering price. Offering is expected to close on or about June 17, 2022. Separately, the company has entered into a subscription and share purchase pact with Forbion Growth Opportunities Fund II Coöperatief U.A., represented by Forbion Growth II Management B.V., pursuant to which Forbion has agreed to purchase 3.48M ordinary shares at a price of $5.75/ordinary share, for gross proceeds of ~$20M in a concurrent private placement. The weighted average price per ordinary share in the public offering and private placement is ~$5.44/ordinary share. Net proceeds from both transactions, together with its existing cash and cash equivalents, available for sale and short-term deposits to fund clinical development and pre-commercialization

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VectivBio prices $30M follow-on stock offering