Selecta Biosciences down after stock-and-warrants offering

Cartesian Therapeutics

07/04/2022 11:57

** Selecta Biosciences Inc's  SELB.O  shares down nearly 5%
on light premarket volume after equity raise
    ** Co late Weds sold ~27.4 mln shares, and warrants to buy
up to ~20.6 mln shares, at $1.41 for ~$38.7 mln gross raise
 urn:newsml:reuters.com:*:nGNX281WxH
    ** 5-yr warrants immediately exercisable with exercise price
of $1.55
    ** SVB Leerink sole bookrunner, joined by Canaccord Genuity
    ** SELB had ~124.3 mln shares outstanding and ~86.6 mln
shares of public float prior to offering, per Refinitiv data
    ** U.S. FDA a month ago removed clinical hold on early-stage
study for co's potential treatment for methylmalonic acidemia, a
rare metabolic disease  urn:newsml:reuters.com:*:nL3N2VD3KI
    ** Shares on Weds closed at $1.30, down 60% YTD   

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))