Stealth BioTherapeutics (MITO) Announces Pricing Of $4.7 Million Registered Direct Offering Of American Depositary Shares
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Stealth BioTherapeutics Corp (Nasdaq: MITO), a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel therapies for diseases involving mitochondrial dysfunction, today announced that it has entered into definitive agreements with healthcare-focused institutional investors for the purchase and sale of 2,339,000 American Depositary Shares ("ADSs"), each representing 12 ordinary shares of Stealth, at a purchase price of $2.00 per ADS in a registered direct offering. The closing of the offering is expected to occur on or about February 11, 2021, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The gross proceeds to the Company from the offering are expected to be approximately $4.7 million, before deducting the placement agent's fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering to fund the continued clinical development of elamipretide and for working capital and general corporate purposes.
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Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Related EntitiesH.C. Wainwright, FDA
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