Abeona Therapeutics has raised $25 million through an at-the-market offering from existing investors. The company issued 3.28 million shares and pre-funded warrants to purchase 2.92 million shares. The funds will be used for the launch preparations of EB-101 Biologics License Application submission. The offering is set to close around July 6, and ABEO shares were trading down 1.74% pre-market.
- Biopharmaceutical company Abeona Therapeutics (NASDAQ:ABEO) said on Monday that it has raised $25M at-the-market from select existing investors.
- The company issued 3.28M shares, and in lieu of the shares pre-funded warrants to purchase 2.92M shares at $4.03 per share (or $4.0299 per pre-funded warrant).
- The pre-funded warrants will be immediately exercisable at a nominal exercise price of $0.0001 per share.
- The company is expected to be used to fund initiation of its launch preparations in anticipation of the EB-101 Biologics License Application submission and potential approval.
- The offering is expected to close on or about July 6.
- ABEO shares were trading -1.74% pre-market.
Source: SeekingAlpha