Rezolute Inc.Successfully Closes Public Offering, Generating $60M in Gross Proceeds
Rezolute Inc.has recently announced the successful closing of its underwritten public offering, resulting in approximately $60 million in gross proceeds.The late-stage biopharmaceutical company, dedicated to developing groundbreaking therapies for serious rare diseases, executed the public offering through the sale of 11,250,000 shares of its common stock at a price of $4.00 per share.In addition, the offering included pre-funded warrants to purchase 3,750,000 shares of common stock at a price of $3.999 per warrant.
Previously, on June 13, 2024, Rezolute Inc.had disclosed the pricing of its public offering, indicating an aggregate offering of 11,250,000 shares of common stock at $4.00 per share.The offering also included pre-funded warrants, substituting common stock, with each warrant carrying an exercise price of $0.001 less than the per share offering price.The expected gross proceeds prior to deducting underwriting discounts and commissions, as well as other offering expenses, totaled approximately $60 million.
Rezolute Inc.simultaneously unveiled its intention to commence an underwritten public offering of common stock (or pre-funded warrants) on June 13, 2024.The company announced plans to grant the underwriters a 30-day option to acquire up to 15 percent of the shares of common stock, as well as the common stock underlying pre-funded warrants, sold during the public offering.The completion of the offering remains contingent on market and other conditions, with no definitive timeline or guarantee regarding the final size or terms of the public offering.
As of the time of writing, Rezolute Inc.’s share price stands at $3.95, marking a significant increase of 63.22% during the second quarter of 2024.This notable boost in the company’s share price reflects the positive market response to the public offering, underlining investor confidence in Rezolute’s cutting-edge therapies for rare diseases.
Comments