Seelos Therapeutics slips on $60 mln equity raise

Seelos Therapeutics

20/05/2021 14:13

** Seelos Therapeutics  SEEL.O  shares down nearly 4%
premarket after follow-on prices
    ** SEEL sells ~19.4 mln shares at $3.10, raises $60 mln
 urn:newsml:reuters.com:*:nPn3yYJBna
    ** Offering prices at 5.2% discount to stock's Weds close
    ** Co plans to use $6.3 mln of expected net offering
proceeds to repay notes, remainder for general corp purposes and
to advance development of its product candidates
    ** Offering represents ~25% of co's total shares
outstanding, per Refinitiv data
    ** Guggenheim and Cantor jt bookrunners for offering
    ** SEEL shares have lost 37% this week even after co early
Mon reported positive data on its ketamine depression treatment
to help prevent suicide  urn:newsml:reuters.com:*:nPncgwGM3a

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))