Hepion Pharmaceuticals (HEPA) Prices 44.2M Share Common Stock Offering at $2/sh
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Hepion Pharmaceuticals, Inc. (NASDAQ: HEPA), a clinical stage biopharmaceutical company focused on the development of therapeutic drugs for the treatment of liver disease arising from non-alcoholic steatohepatitis ("NASH"), today announced the pricing of its underwritten public offering of 44,200,000 shares of its common stock at a public offering price of $2.00 per share, for gross proceeds of $88.4 million before deducting underwriting discounts, commissions and other offering expenses. All of the shares of common stock are being offered by the Company.
ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering.
The offering is expected to close on February 18, 2021, subject to satisfaction of customary closing conditions.
Hepion intends to use the net proceeds from the offering to fund research and development activities, as well as for working capital and other general corporate purposes.
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