Zymeworks Inc (NYSE:ZYME) has priced its underwritten public offering of 9.16 million common shares, pre-funded warrants to purchase up to 3.34 million shares.
- The shares are offered at $8.00 per common share and the pre-funded warrants at $7.9999 per pre-funded warrant.
- The offer price represents a discount of almost 14% from the last close price of $9.32 on Wednesday.
- See the offer prospectus here.
- The gross proceeds to Zymeworks are expected to be approximately $100.0 million.
- Underwriters have an option to purchase up to an additional 1.875 million shares.
- The Company will use the proceeds to develop zanidatamab, adaptive Phase 1 trials of ZW49, and for general corporate purposes.
- Related: Zymeworks To Cut Its Workforce By Almost 25%, Outlines 2022 & 2023 Priorities.
- The offering is expected to close by January 31.
- Price Action: ZYME shares are down 11.5% at $8.25 during the premarket session on the last check Thursday.
