Shares of clinical-stage biopharmaceutical company RAPT Therapeutics (NASDAQ:RAPT) are sliding in the pre-market session today after RAPT announced the pricing of its underwritten public offering of ~4.05 million shares.
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The company is offering shares at $18.50 apiece for gross proceeds of about $75 million. Further, RAPT has granted underwriters a 30-day option to purchase an additional 608,108 shares.
The offer is anticipated to close on November 22. RAPT shares have now declined nearly 45% year-to-date and short interest in the stock remains elevated at about 13.6%.
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