Shares of Tenaya Therapeutics (NASDAQ: TNYA) slid in pre-market trading on Thursday after the clinical-stage biotechnology company announced the pricing of its public offering.
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Tenaya has priced its underwritten public offering of 22.6 million shares at a price of $2.60 per share and will also offer to certain investors in lieu of common stock, pre-funded warrants to purchase up to an aggregate of 6.24 million shares of its common stock at a purchase price of $2.599 per each pre-funded warrant.
Tenaya expects to receive total gross proceeds of around $75 million, and this offering is expected to close on or about November 21, subject to satisfaction of customary closing conditions.
