Annexon Inc. (ANNX) announced the pricing of its underwritten public offering of about 13.00 million shares of its common stock at a price to the public of $6.25 per share and, in lieu of common stock to certain investors, pre-funded warrants to purchase 7.00 million shares of common stock at a purchase price of $6.249 per share, which equals the public offering price per share of the common stock less the $0.001 exercise price per share of each pre-funded warrant.
The company expects the total gross proceeds to be $125.0 million, before deducting underwriting discounts and commissions and other offering expenses.
The offering is expected to close on June 7, 2024.
In addition, Annexon has granted the underwriters a 30-day option to purchase up to an additional 3 million shares of common stock.
ANNX closed Wednesday's regular trading at $6.79 up $0.80 or 13.36%. But in the after-hours trading the stock dropped $0.01 or 0.15%.
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