Cidara Therapeutics (CDTX) Prices 14.84M Share Offering at $1.55/sh

Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company developing long-acting therapeutics designed to improve the standard of care for patients facing serious diseases, today announced the pricing of concurrent but separate underwritten public offerings of 14,838,706 shares of its common stock at a price to the public of $1.55 per share and 774,194 shares of its Series X Convertible Preferred Stock at a price to the public of $15.50 per share. The gross proceeds to Cidara from these offerings, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be $35.0 million.

In addition, with respect to the common stock offering, Cidara has granted the underwriters a 30-day option to purchase up to an additional 2,225,805 shares of its common stock at the public offering price of $1.55 per share less underwriting discounts and commissions. The offerings are expected to close on or about October 13, 2021, subject to satisfaction of customary closing conditions. The closing of each offering is not contingent upon the closing of the other.

Cantor Fitzgerald & Co. is acting as the sole book-running manager for each offering. Wedbush Securities is acting as the lead manager. Needham & Company, LLC, Maxim Group LLC and Aegis Capital Corp. are acting as co-managers.

The securities described above are being offered by Cidara pursuant to a shelf registration statement, which has been declared effective by the Securities and Exchange Commission (SEC). The offering is being made only by means of a prospectus and prospectus supplements. Preliminary prospectus supplements and the accompanying prospectus relating to the offerings have been filed with the SEC and are available for free on the SEC’s website at http://www.sec.gov. Final prospectus supplements and the accompanying prospectus relating to the offerings will be filed with the SEC and will be available for free on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplements and the accompanying prospectus relating to these offerings, when available, may be obtained from: Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Ave., 4th Floor, New York, New York 10022, or by e-mail at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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