Rezolute, Inc. (RZLT) on Wednesday announced the pricing of an underwritten offering of approximately $90 million in gross proceeds, consisting of common stock and pre-funded warrants, to support its continued development of therapies for rare diseases, including congenital hyperinsulinism or HI.
The offering includes 20,786,923 shares of common stock at $3.25 per share, and 6,905,385 pre-funded warrants at $3.2490 per warrant.
The company has also granted underwriters a 30-day option to purchase up to an additional 4,153,846 shares of common stock.
All securities are being sold by Rezolute, and the offering is expected to close on or around April 24, 2025, subject to customary closing conditions.
Rezolute stated that proceeds will be used to fund research and development, general corporate purposes, and working capital.
The offering received participation from new and existing institutional investors, including Federated Hermes Kaufmann Funds, Blackstone Multi-Asset Investing, Great Point Partners, Nantahala Capital, Marshall Wace, Squadron Capital Management, and Woodline Partners.
Rezolute is advancing ersodetug, a monoclonal antibody therapy for hyperinsulinism, through late-stage development. The company is currently enrolling patients in the Phase 3 sunRIZE study, with topline data expected by the end of 2025.
Currently, RZLT is trading at $3.97 up by 27.49 percent on the Nasdaq.
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