- Biotechnology company Stoke Therapeutics (NASDAQ: STOCKS) has priced its underwritten public offering of approximately 5.56 million shares to the public at $13.50 per share and pre-funded warrants to purchase up to an aggregate of approximately 3.7 million shares at a price of the audience of ~$13.5.
- The gross proceeds from this offering are expected to be $125 million.
- The offering is expected to close on or about April 2, 2024.
- The underwriters have a 30-day option to purchase up to an additional 1.39 million shares.
- All common shares and pre-funded warrants are being offered by Stoke.
- The net proceeds, together with its existing cash and cash equivalents, fund research, clinical and process development, and manufacturing of its product candidates, including late-stage development of STK-001 and further development of STK- 002, the development of additional product candidates, working capital, capital expenditures and for other general corporate purposes.
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