Evoke Pharma Has Priced An Underwritten Public Offering Led By Nantahala Capital Management For Gross Proceeds Of Up To $30M Million, Which Includes Initial Upfront Funding Of Approximately $7.5M
Portfolio Pulse from Benzinga Newsdesk
Evoke Pharma has announced an underwritten public offering led by Nantahala Capital Management, aiming for gross proceeds of up to $30M, including $7.5M in initial funding. The offering includes shares of common stock or pre-funded warrants, and three series of warrants (A, B, and C) each with an exercise price of $0.68. The total initial gross proceeds are $7.5M, with potential for an additional $22.5M if all warrants are exercised.
February 09, 2024 | 12:33 pm
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Evoke Pharma's public offering could inject up to $30M in gross proceeds, starting with $7.5M. The offering includes common stock and series A, B, and C warrants, all priced at $0.68.
The public offering is a significant financial move for Evoke Pharma, potentially providing substantial gross proceeds. The initial $7.5M funding and the structured warrants offer a strategic way to raise capital. This could positively impact the stock in the short term as it reflects investor confidence and financial strengthening.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100