ContraFect: Slumps on discounted share offering

CONTRAFECT

18/03/2021 09:28

** Drug developer's shares  CFRX.O  down 14.79% at $5.3
premarket, stock among top pct losers on premarket trade on
Nasdaq
    ** Co prices its underwritten public offering of 10 mln
shares of its common stock at $5.00 per share, representing a
19.6% discount to stock's last close  urn:newsml:reuters.com:*:nGNX8rd0H8
    ** The gross proceeds from the public offering will be $50
mln - CFRX
     ** Also grants the underwriters a 30-day option to purchase
up to an additional 1.5 mln shares of its common stock
    ** The offering is expected to close around March 22
    ** SVB Leerink and Cantor are acting as joint bookrunning
managers for the offering
    ** Up to last close, stock up ~23% YTD

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))