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Cidara Therapeutics Announces $30M Proposed Rights Offering

 Cidara Therapeutics, Inc. (NASDAQ:CDTX) ("Cidara") today announced its intent to raise $30.0 million through a fully backstopped rights offering. Under the terms of the rights offering,

Benzinga · 01/10/2020 13:13

 Cidara Therapeutics, Inc. (NASDAQ:CDTX) ("Cidara") today announced its intent to raise $30.0 million through a fully backstopped rights offering. Under the terms of the rights offering, investors as of January 21, 2020 in Cidara's common stock and preferred stock, as well as the holders of Cidara's warrants issued on May 21, 2018, will receive a subscription right entitling them to purchase their pro rata share of the $30.0 million offering amount. The rights offering will be fully backstopped by BVF Partners L.P. and Stonepine Capital, LP, each of which have agreed to purchase, at a minimum, its respective as-convertedpro ratashare of the offering amount, plus an additional amount of securities that are not subscribed for by otherpurchasers in the rights offering, for a total of up to $30.0 million.