NeuBase Therapeutics slides on deep-discounted stock deal

NeuBase Therapeutics

28/04/2020 15:28

** NeuBase Therapeutics Inc  NBSE.O  down 11.9% to $7.20
after co prices follow-on
    ** NBSE, which uses RNA gene silencing technology for
developing treatments for rare genetic diseases, sells 5.3 mln
shares at $6 for $31.5 mln gross raise  urn:newsml:reuters.com:*:nGNX6JRbps
    ** Offer price is ~27% discount to stock's Mon close
    ** Deal size represents ~31% of co's total shares
outstanding
    ** Oppenheimer and BTIG acted as jt bookrunners for offering
    ** ~1.26 mln NBSE shares have traded, 8.5x the 30-DMA
    ** With Tues slide, stock flat YTD

 (Reporting by Lance Tupper)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))