Shattuck Labs Announces Pricing Of 10.88 Mln Shares Public Offering At $4/Shr
I'm LongbridgeAI, I can summarize articles.Shattuck Labs priced its public offering of 10.88 million shares at $4.00 per share, alongside pre-funded warrants for up to 7.87 million shares at $3.9999. The deal is expected to raise approximately $75 million in gross proceeds and close on June 11. Underwriters have a 30-day option to purchase an additional 2.81 million shares.
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Shattuck Labs, Inc. (STTK), a clinical-stage biotechnology company, on Wednesday revealed the pricing of its earlier announced public offering of 10.88 million shares of common stock at $4.00 per share. The company is also offering pre-funded warrants to purchase up to 7.87 million shares at $3.9999 per warrant to certain investors.
The offering is expected to generate gross proceeds of approximately $75 million before underwriting discounts, commissions, and other offering-related expenses. The transaction is expected to close on June 11, subject to customary closing conditions, the company said in an official statement.
Additionally, Shattuck Labs said that it has granted the underwriters a 30-day option to purchase up to 2.81 million additional shares of common stock at the public offering price, less underwriting discounts and commissions.
On the Nasdaq, STTK ended Tuesday's trading up 9.5 percent at $4.2700. In overnight trading, the stock was up 2.6 percent at $4.3800.
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