Equillium (EQ) Prices 5M Share Common Offering at $7/Sh

Equillium, Inc. (NASDAQ: EQ) today announced the pricing of an underwritten public offering of 5,000,000 shares of common stock at a public offering price of $7.00 per share. In addition, Equillium has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock at the public offering price less the underwriting discount. Equillium anticipates its gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, to be approximately $35 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about August 18, 2020, subject to customary closing conditions.

Equillium expects to use the net proceeds from this offering to primarily fund the continued development of current and any future product candidates in its pipeline, potential acquisitions of new products, and for working capital, capital expenditures and general corporate purposes.

Jefferies, SVB Leerink and Stifel are acting as the joint book-running managers for this offering. H.C. Wainwright & Co. is acting as financial advisor to Equillium for this offering.

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