UNITY Biotechnology (UBX) to Offer $25M in Common Stock

UNITY Biotechnology, Inc. (Nasdaq: UBX) announced that it has commenced a proposed underwritten public offering of $25.0 million of shares of its common stock. In addition, UNITY expects to grant the underwriters of the offering a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering at the public offering price, less underwriting discounts and commissions. All of the shares of common stock to be sold in the offering are being offered by UNITY. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

UNITY intends to use the net proceeds from the proposed offering to fund the ongoing clinical development of UBX1325, including the BEHOLD and ENVISION studies, and other general corporate purposes, including working capital, operating expenses and capital.

SVB Securities, Cantor and Mizuho Securities are acting as joint book-running managers for the proposed offering. Wedbush PacGrow is acting as lead manager for the proposed offering.

You May Also Be Interested In