Ambrx Announces $75M Registered Offering Of 5.4M American Depositary Shares At A Price Of $13.93/ADS
Portfolio Pulse from Happy Mohamed
Ambrx Biopharma (NASDAQ: AMAM) has entered into a securities purchase agreement with Darwin Global Management for the sale of 5.4 million American Depositary Shares at $13.93 per share, raising $75 million. The proceeds will be used to fund R&D, working capital, and general corporate purposes.
May 24, 2023 | 12:31 pm
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Ambrx Biopharma raises $75 million through a registered offering of 5.4 million ADS at $13.93 per share, with proceeds to be used for R&D, working capital, and general corporate purposes.
The $75 million raised through the registered offering will provide Ambrx Biopharma with additional capital to fund its research and development efforts, working capital, and general corporate purposes. This influx of capital is likely to have a positive short-term impact on the company's stock price, as it demonstrates investor confidence and provides resources for growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100