Adverum Biotechnologies (ADVM) has released an update to notify the public and investors about an entry into a material definitive agreement.
Adverum Biotechnologies, Inc. has struck a deal with institutional and accredited investors to sell over 105 million shares and pre-funded warrants in a private placement aimed at raising approximately $127.8 million before expenses. The funds are earmarked for research and development, working capital, and general corporate needs. Additionally, the company has committed to registering these securities to facilitate their resale, ensuring both the company and investors are positioned for future financial flexibility.
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For a comprehensive understanding of the announcement, you can read the full document here.
