Precision BioSciences announces $40M offering of common stock, warrants

Precision BioSciences announced that it has agreed to sell to the public by way of an underwritten offering 2.5M shares of its common stock and accompanying warrants to purchase up to 2.5M shares of common stock at a combined offering price of $16.00 price per share, for total gross proceeds of $40M, before deducting underwriting discounts and commissions. The warrants have an exercise price of $20.00 per share and are exercisable immediately and will expire five years following the date of issuance. The financing consisted of participation from leading life sciences investors, including Perceptive Advisors, Janus Henderson Investors, Aquilo Capital Management, LLC and LYFE Capital. Guggenheim Securities is acting as sole book-running manager for the offering.