Hepion Pharmaceuticals (HEPA) Prices 20M Share Common Offering at $1.50/Sh

Hepion Pharmaceuticals, Inc. (NASDAQ: HEPA) today announced the pricing of an underwritten public offering of 20,000,000 shares of its common stock. Each share of common stock is being sold to the public at a price per share of $1.50. The gross proceeds to Hepion from this offering are expected to be approximately $30 million before deducting underwriting discounts, commissions and other offering expenses.

Hepion has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 shares of common stock at the public offering price, less the underwriting discounts and commissions.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering.

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.

The offering is expected to close on November 30, 2020, subject to customary closing conditions.

You May Also Be Interested In

• IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
• Whirlpool (WHR) to cut 1,000 jobs - CFO Jim Peters
• La Rosa Holdings (LRHC) Files for 6.95M Share Offering by Selling Stockholders