Aeon Biopharma's (AEON) shares fell more than 66% in recent Monday trading after the company priced a firm commitment underwritten public offering to raise gross proceeds of $20 million.
The offering includes 40 million common units priced at $0.50 each, with each unit comprised one share or a pre-funded warrant, along with series A and B registered common warrants, both exercisable at $0.625.
The company said it granted Aegis Capital a 45-day over-allotment option for up to 15% additional shares and warrants.
Aeon plans to use the use the proceeds for general corporate purposes and working capital.
The offering is expected to close on or about Tuesday.
Price: 0.17, Change: -0.40, Percent Change: -69.60
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