The company intends to issue 1,418,071 shares at a price of $33.21 each. Certain investors will receive pre-funded warrants to purchase up to 87,500 additional shares at an exercise price of $33.209. These warrants carry an exercise price of one-tenth of a cent and are immediately available for use. The transaction, led by Cormorant Asset Management with contributions from Columbia Threadneedle Investments, is scheduled to close around July 13.
In section Market Quotes
Cue Biopharma Secures $50 Million in Private Stock Placement
Investors pushed Cue Biopharma shares up 6.7% Friday morning, reaching $38.95 after the biotechnology firm announced a $50 million private placement. The financing deal, which includes a mix of common stock and pre-funded warrants, marks a significant capital infusion for the company following a 157% stock rally over the last three months.
Cue Biopharma plans to direct the proceeds toward ongoing clinical development programs and general corporate requirements. This injection of capital arrives as the firm maintains substantial market momentum, with its share price having more than doubled since April.
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