Seelos Therapeutics Inc (NASDAQ:SEEL) is trading up in the pre-market session on Tuesday .
As of 7:40, SEEL stock is increases by 1.24% to trade at $3.26. So far more than 1.2K shares have exchanged hands.
SEEL Issued News Late Monday,
Seelos Therapeutics Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares
- announced today the closing of its previously announced underwritten public offering of 22,258,066 shares of its common stock, at a price to the public of $3.10 per share, which includes the exercise in full by the underwriters of their option to purchase up to 2,903,226 additional shares of common stock.
- The net proceeds to Seelos from this offering are expected to be approximately $64.5 million, after deducting underwriting discounts and commissions and other estimated offering expenses payable by Seelos. Seelos intends to use an aggregate of $7.3 million of the net proceeds from the offering for the partial repayment of certain outstanding convertible promissory notes and the remainder for general corporate purposes and to advance the development of its product candidates.
- Guggenheim Securities and Cantor acted as joint book-running managers for the offering. BTIG acted as lead manager for the offering. The Benchmark Company acted as a financial advisor for the offering.