Nuvectis Pharma (NVCT) said Wednesday it has priced an underwritten public offering of 2.7 million of its shares at $5.00 apiece to raise $13.5 million.
Nuvectis said it has also granted its underwriter a 30-day option to buy up to 405,000 additional shares. It expects to close the offering Feb. 6, with Lucid Capital Markets as the book runner.
The proceeds will be used among others to advance its development programs, for capital expenditures, and other general corporate purposes, the clinical-stage company said.
The shares were up over 6% in recent trading.
Price: 7.48, Change: +0.48, Percent Change: +6.86
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