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Forte Biosciences, Inc. (NASDAQ:FBRX), a clinical-stage biopharmaceutical company focused on autoimmune and autoimmune-related diseases, today announced that it has commenced an underwritten public offering of shares of its common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase shares of common stock. In addition, Forte expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of common stock plus the shares of common stock underlying the pre-funded warrants sold in the offering. All of the shares of common stock and pre-funded warrants are being offered by Forte. The proposed offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.
Forte intends to use the net proceeds of the offering for working capital and other general corporate purposes, which includes funding clinical and preclinical development of its product candidate and other research activities.
TD Cowen, Evercore ISI, Guggenheim Securities and Chardan are acting as joint book-running managers for the offering. Lucid Capital Markets is acting as co-manager for the offering.
Posted In: FBRX
