Alector Inc (ALEC) has released an update to notify the public and investors about an entry into a material definitive agreement.
Alector, Inc. has entered into an underwriting agreement with Cantor Fitzgerald & Co. to issue and sell 10,869,566 shares of common stock at $6.57 per share, with an additional option for the underwriter to purchase up to 1,630,434 more shares within 30 days. The expected gross proceeds are around $75 million before fees and expenses, with the offering’s closure anticipated on January 19, 2024. This offering is under the company’s registration statement previously declared effective by the SEC.
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