(RTTNews) – Protara Therapeutics, Inc. (TARA), a clinical-stage firm growing transformative therapies for the remedy of most cancers and uncommon ailments, introduced late Monday that it has priced its underwritten public providing of 13.69 million shares of its frequent inventory at a worth to the general public of $6.25 per share.
The gross proceeds from the providing are anticipated to be round $100 million earlier than deducting underwriting reductions and commissions and providing bills.
Protara intends to make use of the online proceeds to fund the medical improvement of TARA-002, in addition to the event of different medical applications. The corporate might also use the online proceeds for working capital and different basic company functions.
The corporate additionally introduced pre-funded warrants to buy round 2.33 million shares of frequent inventory at a worth of $6.249 per pre-funded warrant, which represents the per share worth for the frequent inventory much less the $0.001 per share train worth for every such pre-funded warrant.
As well as, Protara has granted the underwriters a 30-day choice to buy as much as an extra 2.40 million shares of frequent inventory on the public providing worth, much less underwriting reductions and commissions.
All shares and pre-funded warrants within the providing are being bought by Protara.
The providing is anticipated to shut on December 11, topic to satisfaction of customary closing circumstances.
Within the providing, TD Cowen, Cantor, LifeSci Capital, Oppenheimer & Co. and Scotiabank are performing as joint book-running managers.
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