Protara Therapeutics (TARA) said late Monday it priced an underwritten public offering of 13.7 million shares at $6.25 apiece and pre-funded warrants to purchase 2.3 million shares at $6.249 per warrant.
The company granted underwriters a 30-day option to purchase up to an additional 2.4 million shares. The offering is expected to close on Wednesday.
Protara expects gross proceeds of about $100 million.
The company aims to use the proceeds to fund clinical development and for working capital and other general corporate purposes.
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