Orphan lung disease company Savara Inc (Nasdaq:SVRA) reported on Monday the completion of its public offering of 57,479,978 shares of its common stock at a price of USD1.45 per share.
This public offering includes 11,694,150 shares in underwriters' full option to purchase additional shares from the company.
In lieu of shares of common stock, the company sold to certain investors pre-funded warrants to purchase an aggregate of 32,175,172 shares of common stock at a purchase price of USD1.449 per warrant, which USD0.001 per share exercise price for each pre-funded warrant.
Before deducting underwriting discounts and commissions and other offering expenses and including the underwriters' full option exercise, the aggregate gross proceeds of the offering to the company were approximately USD130.0m.
Net proceeds may be used by the company for working capital, support operations, clinical development of its molgramostim nebulizer solution in autoimmune pulmonary alveolar proteinosis and IMPALA 2 trial, as well as general and administrative expenses.
Jefferies LLC and Piper Sandler acted as joint book-running managers and representatives of the underwriters for the offering.
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