© Reuters. Eleven Bio prices equity offering; shares down 24%
- Thinly traded nano cap Eleven Biotherapeutics (EBIO -24.2%) slumps on 72% higher volume in response to the pricing of its public offering of 5.525M shares of common stock, pre-funded warrants to purchase up to 4.475M shares of common and common warrants to purchase up to 10M shares of common at a combined price of $0.80 per share and common warrant.
- Each five-year common warrant is exercisable at $0.80 per common share.
- Closing date is November 3. Underwriters over-allotment is an additional 1.5M shares of stock at $0.80 and/or common warrants to purchase up to 1.5M shares at $0.01 per warrant.
- Net proceeds will fund the continued development of Vicinium and general corporate purposes.
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