- Geron ( NASDAQ: GERN ) shares gained 6% premarket on Friday after the biopharmaceutical company priced its $198M upsized offering of 55,876,297 shares and pre-funded warrants to purchase 25M shares.
- The shares are being offered at $2.45 each, while the pre-funded warrants are being sold at$2.449 each.
- In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 12,131,444 shares of its common stock.
- Gross proceeds are estimated to be ~$198.1M; net proceeds, along with existing cash, will be used to fund preparatory activities for the potential U.S. commercial launch of imetelstat in lower risk MDS, and, if approved, to fund the potential U.S. commercial launch of imetelstat.
- The offering is expected to close on or about January 10, 2023.
For further details see:
Geron stock rises after pricing $198M securities offering