Shares of Marinus Pharmaceuticals (NASDAQ: MRNS) slid in after-hours trading on Monday after the pharma company announced the pricing of 10.53 million shares of its common stock at a price of $4.75 per share, and, to certain investors in place of common stock, pre-funded warrants to purchase 2.1 million shares of common stock at a price of $4.749 per pre-funded warrant.
This public offering will result in gross proceeds of around $60 million. The offering is expected to close on November 10.
The company stated in its press release that it ” intends to use the net proceeds of the offering to continue to fund commercialization of ZTALMY® (ganaxolone) oral suspension CV, the development of its product candidates and for general corporate purposes, which may include working capital, capital expenditures, research and development expenditures, clinical trial expenditures, acquisitions of new technologies, products or businesses, and investments.”
