- pro-kidney (NASDAQ: PROK) announced its expanded underwritten public offering and concurrently registered direct offering of 53,719,009 shares of Class A common stock priced at $2.42 per share, with expected total proceeds of $130 million.
- The offering is an increase from the previously announced $125 million to US$130 million.
- In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 15% of the Class A common stock sold in the underwritten public offering.
- All Class A ordinary shares in this underwritten public offering and simultaneous registered direct issuance will be sold by the Company.
- The company intends to use the net proceeds from the offering for clinical trial costs and other research and development expenses, among other things, and for other general corporate purposes.
- The public offering and concurrent registered direct offering are expected to close on or about June 13, 2024.
