Shattuck Labs Announces $50M Public Offering Of Common Stock And Concurrent Private Placement Of Pre-Funded Warrants
Portfolio Pulse from Benzinga Newsdesk
Shattuck Labs, Inc. (STTK) has priced a public offering of 4,651,163 shares of common stock at $6.45 each and a concurrent private placement of pre-funded warrants for 3,100,823 shares at $6.4499 each. The total gross proceeds are expected to be approximately $50 million. The funds will be used for the development of pipeline candidates, including SL-172154, and for general corporate purposes. The offering is set to close around December 26, 2023, with Evercore ISI as the sole book-running manager.
December 21, 2023 | 1:03 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Shattuck Labs is conducting a public offering and private placement expected to raise $50 million for pipeline development and corporate purposes.
The public offering and private placement are neutral to slightly negative in the short term as they may dilute existing shareholders' equity. However, the capital raise is important for the company's pipeline development, which could have long-term positive effects. The confidence in this analysis is high due to the clear use of proceeds and the involvement of a reputable financial institution as the book-runner.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100