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Benitec Biopharma announced a $40.0 million private investment in public equity (PIPE) financing from the sale of 5.749 million shares of its common stock at a price per share of $4.80, and, in lieu of shares of common stock, pre-funded warrants to purchase up to an aggregate of 2.58 million shares of its common stock at a price per pre-funded warrant of $4.7999, to certain institutional accredited investors. Gross proceeds from the PIPE financing total approximately $40.0 million, before deducting offering expenses.
The Company intends to use the net proceeds from the PIPE financing to fund the clinical development and related commercialization of BB-301, including the natural history lead-in study and the Phase 1b/2a BB-301 treatment study, and for general corporate purposes.
Posted In: BNTC
