TG Therapeutics, Inc. (NASDAQ: TGTX) announced the pricing of an underwritten public offering of 8,500,000 shares of common stock at a public offering price of $18.00per share. Gross proceeds to the Company from the offering are expected to be$153,000,000 before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional1,275,000 shares of common stock in connection with the offering. All shares are being sold by the Company. The offering is expected to close onMay 19, 2020, subject to the satisfaction of customary closing conditions. The offering was upsized from the previously announced offering size of approximately6,000,000 shares of common stock.
The Company anticipates using net proceeds from the offering to fund the continued development of ublituximab and umbralisib, the potential in-license, acquisition, development and commercialization of other pharmaceutical products, and for general corporate purposes.
J.P. Morgan Securities LLC, Jefferies LLC, Evercore Group L.L.C., and Cantor Fitzgerald & Co. are acting as joint book-running managers for the proposed offering. Ladenburg Thalmann & Co. Inc. and H.C. Wainwright & Co., LLCare acting as co-managers for the offering.