- Abeona Therapeutics ( NASDAQ: ABEO ) on Thursday announced $35M private placement financing .
- The company will sell ~7.1M shares, pre-funded warrants exercisable for 543.9K shares (in lieu of shares), and accompanying warrants to purchase 7.6M shares to a group of new and existing institutional investors.
- The offering price for each share and accompanying warrant was $4.60, and for each pre-funded warrant and accompanying warrant was $4.59.
- Each accompanying warrant will represent the right to buy one share at an exercise price of $4.75/share.
- The pre-funded warrants and accompanying warrants will be exercisable immediately, and will expire five years from the date of issue.
- Abeona ( ABEO ) intends to use the net proceeds from the private placement for development, working capital and general corporate purposes.
- Net proceeds plus existing financial resources are expected to be sufficient to fund Abeona's ( ABEO ) operations into Q3 2024.
- The private placement is expected to close on Nov. 7.
For further details see:
Abeona Therapeutics announces $35M private placement