Matinas BioPharma: Drops on $30 mln equity raise

Matinas BioPharma Holdings

15/03/2019 13:04

(Updates with pricing details)
    ** Matinas BioPharma  MTNB.A  shares pare earlier losses,
recently down ~4 pct to $1.15 premarket as co prices its
overnight follow-on
    ** Offers 27.3 mln shares at $1.10, 8 pct discount to
stock's last sale, for gross raise of $30 mln  urn:newsml:reuters.com:*:nBw3RNQQCa
    ** To use proceeds for ongoing development for its product
candidates, namely MAT9001, and its lipid nano-crystal (“LNC”)
platform delivery technology for treatment of cardiovascular
disease
    ** Sole bookrunner BTIG was marketing a $30 mln equity raise
for MTNB  urn:newsml:reuters.com:*:nL1N2120CG
    ** Offering represents about a quarter of MTNB's total
shares outstanding; about 180k shares have traded before the
bell vs 25-DMA volume of ~1.1 mln
    ** MTNB has doubled this year and has quadrupled from
52-week low hit in Jun

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