Secondary Stock OfferingsBy The Online Investor Staff, updated Sat., Sep. 19, 8:42 AM
|This Slide: #10 of 25|
Slide #10. 89bio, Inc. — Secondary Offering
89bio, Inc. (NASDAQ:ETNB)
Date of Pricing:
Price Per Share:
Secondary Offering Details:
89bio, Inc. (Nasdaq: ETNB), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardio-metabolic diseases, today announced that it has commenced an underwritten public offering of 3,000,000 shares of its common stock, which includes 2,700,000 shares of the common stock offered by the company and 300,000 shares of the common stock offered by certain of the company's stockholders. In addition, the company and a selling stockholder is expected to grant the underwriters of the offering an option for a period of 30 days to purchase up to an additional 175,000 shares of common stock and 275,000 shares of common stock, respectively, at the public offering price, less the underwriting discounts and commissions. The offering is subject to market and other 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. -updated 9/16- 89bio, Inc. (Nasdaq: ETNB), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardio-metabolic diseases, today announced the pricing of an upsized underwritten public offering of 3,300,000 shares of its common stock at a public offering price of $28.00 per share. 3,025,000 shares are being offered by 89bio, and 275,000 shares are being offered by a selling stockholder. The gross proceeds of the offering to 89bio, before deducting the underwriting discount and other offering expenses payable by 89bio, are expected to be approximately $84.7 million. In addition, 89bio has granted the underwriters a 30-day option to purchase up to an additional 495,000 shares of common stock, at the public offering price, less the underwriting discounts and commissions. 89bio will not receive any proceeds from the sale of shares of the company's common stock by the selling stockholder. The offering is expected to close on September 21, 2020, subject to the satisfaction of customary closing conditions.
89Bio operates as a clinical-stage biopharmaceutical company. Co. focuses on developing therapies and drugs for treatments of patients living with nonalcoholic steatohepatitis (NASH) and other liver and metabolic disorders. Co. serves customers in the United States and Israel.
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Strong Buy (3.83 out of 4)
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