Astria Therapeutics (ATXS) has released an update to notify the public and investors about an entry into a material definitive agreement.
Astria Therapeutics, Inc. has entered into an underwriting agreement with Jefferies LLC and Evercore Group L.L.C. for the sale of 10,340,000 shares of common stock at an offering price of $12.09 per share. The company anticipates net proceeds of approximately $117.1 million, intended for research and development, including clinical trials for its product candidates STAR-0215 and STAR-0310, as well as general corporate purposes. The offering is based on a registration statement previously declared effective by the SEC, and the closing is expected to occur around February 1, 2024, with standard closing conditions and a 45-day lock-up period for company insiders.
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For a comprehensive understanding of the announcement, you can read the full document here.
