Abeona Therapeutics (ABEO) Plans Common Stock Offering

October 26, 2016 4:15 PM EDT
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Abeona Therapeutics Inc. (Nasdaq: ABEO) announced that it intends to offer and sell shares of its common stock in an underwritten public offering pursuant to an existing shelf registration statement. All of the shares in the offering are to be sold by Abeona. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Jefferies LLC is acting as the sole book-running manager for the offering. Abeona intends to grant the underwriters a 30-day option to purchase additional shares of its common stock in an amount up to 15% of the shares sold in the offering, on the same terms and conditions.

Abeona intends to use the net proceeds of the offering for working capital and general corporate purposes, including, without limitation, development of our product candidates and general and administrative expenses.

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