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Seelos Therapeutics Prices 7.5M Share Public Offering of Common Stock @$0.60/Share

Seelos Therapeutics, Inc. (NASDAQ: SEEL) announced the pricing of an underwritten public offering of 7,500,000 shares of its common stock, at a price to the public of $0.60 per share.

Benzinga · 03/12/2020 09:20

Seelos Therapeutics, Inc. (NASDAQ: SEEL) announced the pricing of an underwritten public offering of 7,500,000 shares of its common stock, at a price to the public of $0.60 per share. In addition, the Company granted the underwriters a 45-day option to purchase up to 1,125,000 additional shares of its common stock to cover over-allotments, if any. All of the shares of common stock in the offering are being sold by Seelos.

Benchmark Company is acting as sole book-running manager for the offering.

Seelos anticipates the aggregate net proceeds from the offering will be approximately $3.9 million, after deducting the underwriting discounts and commissions and estimated offering expenses payable by Seelos, but excluding any exercise of the underwriters' option to purchase additional shares of common stock. Seelos intends to use the net proceeds from the offering for general corporate purposes and to advance the development of its product candidates. This offering is expected to close on or about March 16, 2020, subject to the satisfaction of customary closing conditions.