Inhibikase Therapeutics Inc (NASDAQ: IKT) has spoken about its 15 million shares underwritten public offering. The company dwells on the pricing aspect, outlining that the shares will be sold out at $3 each, a move that will see the company accumulate gross proceeds adding up to $45 million.
Focusing on the figures
Inhibikase Therapeutics narrows down on the subject, focusing ultimately on the offer price. The company outlines that the pride was representative of a 26% discount on the $4.03, which happened to be the previous closing price. In some other words, it was Tuesday’s closing price.
Underwriters face tough decision-making ahead, considering that they have the choice to buy up to 2.25 million additional shares.
The company calls upon all the investors to be decisive at this particular instance, referring to its as a defining moment in investments. It points out that June 18 is when the offering will be coming to a close.
Company’s moves and assertions
The company has already started making some elaborate plans on the ways that it will spend the proceeds. One of the ways would be to finance the company’s Phase 2 efficacy trial. The second way will involve funding the company’s Phase 1b extension study for IkT-148009 in Parkinson’s manufacture of iKT-148009. These happen to be the details for the Phase 1b and Phase 2 studies.
The Fordham Financial Management division of ThinkEquity continues playing the role of the book-running manager for the offering in question.
The other important party happens to be the JonesTrading institutional Services LLC. Thus, the above-mentioned party plays out the co-managers role for the offering in question.
Massive success continues to be witnessed, one of the instances being the dosing of the first patients in February’s Phase 1 trial of IkT-148009.