9 Meters Biopharma, Inc. (NASDAQ:NMTR) shares surged 18.56 to $0.89 in the post-market session after the Company has announced that it has closed its previously announced underwritten public offering of 53,076,924 shares of its common stock, inclusive of the full over allotment option exercised by the underwriters for the price of $0.65 per share.
About $32 million was received by the Company in net proceeds from the public offering, after deducting underwriting discounts and commissions and offering expenses payable by 9 Meters. This offering will provide additional funds to advance the clinical development of NM-002 for the treatment of short bowel syndrome, the continued clinical development of larazotide for the treatment of celiac disease, and for working capital and general corporate purposes.
The 2021 Backdoor Crypto Portfolio (free)
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.
Sponsored
Read More
Oppenheimer & Co., Inc. was the lead manager for the offering while Brookline Capital Markets, a division of Arcadia Securities, LLC, served as a co-manager for the offering.