Zentalis Pharmaceuticals raises $80.5M in $3.50 share offering
Biotech firm prices equity sale at $3.50 per share, securing $80.5 million in gross proceeds.
Zentalis Pharmaceuticals Inc. said on Friday it priced an underwritten public offering of 23 million shares at $3.50 per share, raising gross proceeds of approximately $80.5 million.
The offering is expected to close on or about June 11, subject to customary closing conditions. Net proceeds will be used for general corporate purposes, including funding research and development, clinical trials and potential acquisitions.
Underwriters led by Jefferies and SVB Securities have a 30-day option to purchase up to an additional 3.45 million shares to cover over-allotments, if any.
Zentalis, a clinical-stage biotechnology company, focuses on developing small-molecule therapeutics targeting RNA splicing for the treatment of cancer and other diseases. The company’s shares are listed on the Nasdaq under the ticker ZNTL.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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