Foghorn Prices $110M Registered Direct Offering Of 12,743,039 Common Stock At A Price Of $5.51 Per Share And Pre-Funded Warrants To Purchase Up To An Aggregate Of 7,220,794 Shares Of Its Common Stock At A Price Of $5.5099 Per Pre-Funded Warrant
Portfolio Pulse from Benzinga Newsdesk
Foghorn Therapeutics Inc. (NASDAQ:FHTX) has announced a $110 million registered direct offering of 12,743,039 shares of common stock at $5.51 per share and pre-funded warrants for 7,220,794 shares at $5.5099 per warrant. The offering is expected to close on May 22, 2024, and the proceeds will be used for advancing preclinical and clinical programs and general corporate purposes.
May 20, 2024 | 12:02 pm
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Foghorn Therapeutics Inc. has announced a $110 million registered direct offering of common stock and pre-funded warrants. The offering is expected to close on May 22, 2024, and the proceeds will be used to advance preclinical and clinical programs and for general corporate purposes.
The direct offering will provide Foghorn with significant capital to advance its clinical and preclinical programs, which is likely to be viewed positively by investors. The expected closing date and the use of proceeds for growth initiatives further support a positive short-term impact on the stock price.
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