Celcuity Prices Public Offering Of 175 Mln, 2.75% Sr. Notes, And 1.84 Mln Shares At $38/Shr
Celcuity Inc. has priced its public offering of $175 million in 2.75% convertible senior notes due 2031 and 1.84 million shares at $38 each. The company aims to raise approximately $248.7 million for working capital and general corporate purposes. The offerings include options for underwriters to purchase additional notes and shares. The notes offering is set to close on August 1, while the stock offering will close on July 31.
Celcuity Inc. (CELC), a clinical-stage biotechnology company, Wednesday said it has priced its public offering of 175 million of 2.75% convertible senior notes due 2031.
The company also priced its public offering of 1.84 million shares at $38 per share, and pre-funded warrants to purchase up to 400,000 shares at $37.999 per pre-funded warrant.
Celcuity intends to use the proceeds of about $248.7 million from the offerings for working capital and general corporate purposes.
The company has granted the underwriters a 30-day option to purchase up to an additional $26.25 million of notes in the notes offering, and a 30-day option to purchase up to an additional 335,526 shares in the stock offering.
The notes offering is expected to close on August 1, while the stock offering is expected to close on July 31.
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