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
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.