NEWS
Verastem Oncology Announces Pricing of $55.0 Million Public Offering of Common Stock, Warrants and Pre-Funded Warrants
Verastem Oncology (Nasdaq: VSTM) has announced the pricing of a $55.0 million public offering of common stock, warrants, and pre-funded warrants. The offering includes 13,333,334 shares of common stock and warrants at $3.00 per share, and 5,000,000 pre-funded warrants with accompanying warrants at $2.999 each. The warrants have an exercise price of $3.50 per share and will expire in 18 months.
The company plans to use the proceeds for the potential launch of avutometinib and defactinib in LGSOC, continued clinical research and development, working capital, and other corporate purposes. Guggenheim Securities and Cantor are acting as joint book-running managers for the offering, which is expected to close on July 25, 2024.
The company plans to use the proceeds for the potential launch of avutometinib and defactinib in LGSOC, continued clinical research and development, working capital, and other corporate purposes. Guggenheim Securities and Cantor are acting as joint book-running managers for the offering, which is expected to close on July 25, 2024.
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