VBL Therapeutics: Falls on discounted stock offering

Notable Labs

09/04/2021 16:14

** Shares of the drug developer  VBLT.O  down ~1.6% at $1.88
    ** Co prices offering of ~5.15 mln ordinary shares at $1.90
each and pre-funded warrants at $1.89 each to purchase 8.05 mln
ordinary shares, representing a discount of ~0.5% and ~1%,
respectively, to stock's last close  urn:newsml:reuters.com:*:nGNX90LP1v
    ** Co grants underwriters a 30-day option to purchase
additional ordinary shares up to 15% of the aggregate number of
ordinary shares plus the ordinary shares underlying pre-funded
warrants that are sold in the offering
    ** Co estimates net proceeds of $25 mln from the offering,
which is expected to close on April 13
    ** Stock has risen ~41% in the last 12 months

 (Reporting by Sahil Shaw in Bengaluru)
 ((sahil.shaw@thomsonreuters.com))