- Societal CDMO (NASDAQ:SCTL) has proposed an two concurrent public offerings of shares of its common stock and Series A convertible preferred stock.
- The offerings are subject to market and other conditions, and there can be no assurance as to whether or when the offerings may be completed or as to the actual size or terms of the offerings.
- Net proceeds from the proposed offerings will be used for the repayment of outstanding debt facility with Athyrium and associated costs to satisfy closing conditions for a capital structure refinancing, including a sale-leaseback transaction in connection with its facility in Gainesville, Georgia and a new 3-year Term A Loan debt facility with Royal Bank of Canada.