2023-05-18 02:41:30 ET
- Cabaletta Bio ( NASDAQ: CABA ) prices underwritten public offering of 7.25M shares at a public offering price of $12.00 per share.
- Underwriters have a 30-day option to purchase up to an additional ~1.09M shares.
- Gross proceeds are expected to be $87M.
- The offering is expected to close on May 22, 2023.
- Proceeds, together with existing cash and cash equivalents, primarily to fund the expanded clinical development of CABA-201 in multiple indications, to advance manufacturing capabilities in preparation for late-stage clinical trials and commercial readiness for CABA-201, and the ongoing development for its CAART programs, as well as for working capital and general corporate purposes.
For further details see:
Cabaletta Bio up 1%, prices $87M offering