- Shares of Tarsus Pharmaceuticals (NASDAQ:TARS) plunged over 10% premarket on Friday after the biopharmaceutical company priced its securities offering to raise approximately $100M in gross proceeds.
- The offering consists of 2,812,500 shares of common stock, issued at $32.00 each, and, in lieu of common stock to a certain investor, pre-funded warrants to purchase up to 312,500 shares of common stock, issued at $31.9999.
- The underwriters have been granted a 30-day option to purchase up to an additional 468,750 shares of common stock at the public offering price, less underwriting discounts and commissions.
- Gross proceeds from the offering are expected to be approximately $100M. The offering is expected to close March 5, 2024, subject to the satisfaction of customary closing conditions.
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