Kiromic BioPharma slumps as stock offer priced at discount

Kiromic Biopharma

30/06/2021 10:55

** Gene-editing company's  KRBP.O  shares drop as much as
25.45% to $4.95, among top pct. losers trading on Nasdaq
premarket 
    ** Co's underwritten public offering of 8 mln shares, priced
at $5 per share, to fetch gross proceeds of $40 million
 urn:newsml:reuters.com:*:nBw39PVtGa
    ** Offer price represents ~24% discount to stock's last
close
    ** Offer size is more than triple of co's free float -
Refinitiv data
    ** ThinkEquity, a division of Fordham Financial Management,
is acting as sole book-running manager for the offer
    ** Stock down ~21% YTD, as of last close 

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