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Verastem Oncology Announces Pricing of Public Offering of Common Stock
May. 16, 2018 09:27AM PST
Biotech InvestingVerastem (Nasdaq: VSTM) focused on developing and commercializing drugs to improve the survival and quality of life of cancer patients, today announced the pricing of its registered underwritten public offering of 7,777,778 shares of its common stock at a price to the public of $4.50 per share. As quoted in the press release: The gross …
Verastem (Nasdaq: VSTM) focused on developing and commercializing drugs to improve the survival and quality of life of cancer patients, today announced the pricing of its registered underwritten public offering of 7,777,778 shares of its common stock at a price to the public of $4.50 per share.
As quoted in the press release:
The gross proceeds to Verastem Oncology from the offering are expected to be $35 million. In addition, Verastem Oncology has granted the underwriter a 30-day option to purchase up to an additional 1,166,666 shares of its common stock. All of the shares to be sold in the offering are to be sold by Verastem Oncology.
Cantor Fitzgerald & Co. is acting as sole book-running manager for the offering. The offering is expected to close on or about May 18, 2018, subject to customary closing conditions.