- Marinus Pharmaceuticals ( NASDAQ: MRNS ) stock dropped 18% after-hours on Monday after the firm has priced its underwritten public offering of 10,526,316 shares of its common stock at a public offering price of $4.75/share, and, to certain investors in lieu of common stock, pre-funded warrants to purchase 2,105,264 shares of common stock at a price of $4.749/pre-funded warrant, for gross proceeds of ~$60M.
- The purchase price per share of each pre-funded warrant represents the per share public offering price for the common stock, minus the $0.001 per share exercise price of such pre-funded warrant.
- All of the shares and pre-funded warrants are being offered by Marinus.
- Underwriters are granted a 30-day option to purchase up to 1,894,737 additional shares of common stock at the public offering price.
- Offering is expected to close on November 10, 2022.
- Net proceeds from the offering will be used to continue to fund commercialization of ZTALMY® (ganaxolone) oral suspension CV, the development of its product candidates and for general corporate purposes.
- Earlier, Marinus Pharmaceuticals stock drops 19% aftermarket on proposed public offering .
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Marinus Pharmaceuticals shares slide 18% on $60M securities offering