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CymaBay announces closing of public offering of common stock
The Fly

CymaBay announces closing of public offering of common stock

CymaBay announced the closing, on January 26, 2023, of its previously announced underwritten public offering of its common stock and pre-funded warrants. CymaBay sold 11,821,428 shares of its common stock in the offering, including 1,821,428 shares pursuant to the full exercise of the underwriters’ option to purchase additional shares, at a public offering price of $7.00 per share before underwriting discounts and commissions. In addition, CymaBay sold pre-funded warrants to purchase 2,142,857 shares of common stock in the offering, at a public offering price of $6.9999 per underlying share before underwriting discounts and commissions. All of the shares of common stock and pre-funded warrants were offered by CymaBay. CymaBay anticipates using the net proceeds from the offering to fund ongoing development of seladelpar, including clinical trials targeting market expansion, and for working capital and general corporate purposes. Piper Sandler, Raymond James and Cantor acted as the joint book-running managers for the offering.

Published first on TheFly

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