Benitec Biopharma (BNTC) said Tuesday it has priced an offering of about 1.4 million shares or pre-funded warrants and a concurrent registered direct offering of 900,000 shares of its common stock with long-term investor Suvretta Capital at $13.00 per share and $12.9999 per warrant.

The pre-funded warrants will be immediately exercisable, the company said.

The offerings are expected to close on Wednesday, the company said.

Gross proceeds to Benitec from the offerings are expected to be approximately $30 million, the company said.

The company said it intends to use the net proceeds, together with existing cash on hand, to finance continued development of its drug candidates and other general corporate purposes.