PepGen Inc. (PEPG) has released an update to notify the public and investors about an entry into a material definitive agreement.
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PepGen Inc. recently announced a significant financial move, entering an underwriting agreement to sell over 7.5 million shares at $10.635 each, aiming to raise around $76.4 million. This capital boost, set to close by February 9, 2024, is earmarked for the advancement of the company’s research and clinical programs, along with supporting its working capital and other corporate needs. Optimistically, this influx of funds is expected to sustain the company’s financial needs well into 2026, signaling a period of stability and growth for PepGen’s operations.
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For a comprehensive understanding of the announcement, you can read the full document here.