Impel NeuroPharma To Raise $45M Via Equity Offering

Impel NeuroPharma To Raise $45M Via Equity Offering
  • Impel NeuroPharma Inc's IMPL has priced its previously announced underwritten public offering of 3 million shares at $15.00 per share for gross proceeds of $45 million.
  • The offer price represents a steep discount of 29% from the last close price of $21.13 on Thursday. The company's stock gained 27.25% to close higher on Thursday at $21.13.
  • See the offer prospectus here.
  • Underwriters have an option to purchase 0.45 million shares. The offering will close by September 14.
  • Impel will use the proceeds to fund the commercial launch activities and market development of Trudhesa, advance INP105 into a clinical proof-of-concept trial in patients with ASD.
  • Related Content: FDA Gives Nod To Nasal Spray Migraine Treatment From Impel NeuroPharma.
  • Read Next: Cowen Sees 100% Upside For This Medical Device Firm.
  • Price Action: IMPL stock is down 12.92% at $18.40 during the premarket session on the last check Friday.

Posted In: BriefsNewsHealth CareFinancingOfferingsSmall CapMoversTrading IdeasGeneral