89bio (ETNB) said late Tuesday it priced an underwritten public offering of 21.7 million common shares at $8.75 per share and, in lieu of common shares to a certain investor, pre-funded warrants to purchase up to 6.9 million shares for expected gross proceeds of $250 million.
The pre-funded warrants are priced at $8.749 apiece with an exercise price of $0.001 per share.
The underwriters have been granted a 30-day option to purchase up to 4.3 million additional shares.
Closing of the offering is expected to occur on Thursday, subject to customary conditions.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.