- Cabaletta Bio ( NASDAQ: CABA ) to raise $35M in an underwritten public offering .
- The company has agreed to sell pre-funded warrants, in lieu of common stock, to purchase 6,213,776 shares of common stock at a price of $5.51999/pre-funded warrant and 126,815 shares of its common stock at a price of $5.52/share
- The purchase price per share of each pre-funded warrant represents the per share public offering price for the common stock, minus the $0.00001/share exercise price of such pre-funded warrant.
- The offering is expected to close on December 12, 2022.
- The net proceeds from the offering, together with existing cash and cash equivalents to be used, to fund the completion of preclinical development and the Investigational New Drug application submission for CABA-201, the initial clinical development of CABA-201 in multiple indications and the ongoing clinical studies for its DSG3-CAART and MuSK-CAART product candidates, as well as for working capital and general corporate purposes.
- Shares are down 2.72% premarket.
For further details see:
Cabaletta Bio dips on announcing $35M offering