Nkarta (NASDAQ:NKTX) announces the pricing of an underwritten offering of 21.01 million shares of common stock at a price of $10.00 per share and pre-funded warrants to purchase 3 million shares of common stock, for expected gross proceeds of approximately $240.1 Millions of dollars.
The stock price is down 15.5% during premarket trading on Monday.
The pre-funded warrants sell for $9.9999 per warrant, which is the offering price per share of common stock less the exercise price per share of $0.0001.
The Company intends to use the net proceeds from the offering to fund continued research and clinical development of NKX019, as well as for working capital and general corporate purposes.
The offering is expected to close on or about March 27, 2024.