Synlogic, Inc. (Nasdaq: SYBX) has just made a big move in the world of biotechnology. The company, which is on a mission to transform the care of serious diseases through novel, oral, non-systemically absorbed biotherapeutics, has announced the pricing of an underwritten public offering that could change the game.
Here’s the scoop: Synlogic is offering up a total of 7,394,363 shares of common stock (or common stock equivalents) and accompanying common warrants. The combined offering price for each share of common stock and its accompanying warrant is set at $2.84. But that’s not all. These accompanying warrants will be exerciseable immediately with an exercise price of $3.408 per share and a lifespan of five years from the initial exercise date.
And who’s the driving force behind this offering? None other than Chardan, who is acting as the sole book-running manager for this exciting venture.
Now, here’s the exciting part: Synlogic expects to rake in total gross proceeds of approximately $21.0 million through this offering, and that’s before taking underwriting discounts, commissions, and offering expenses into account. The offering is slated to close around October 3, 2023, provided that all customary closing conditions are met.
The stage is set, the players are in position, and Synlogic is ready to make waves in the world of biotechnology. Stay tuned for what promises to be a game-changing development in the field of healthcare and disease management.
About Synlogic
Synlogic, Inc. (Nasdaq: SYBX), a clinical-stage biotechnology company with a bold mission to revolutionize the treatment of serious diseases using novel, oral, non-systemically absorbed biotherapeutics, has made a significant move. The company has just announced the pricing of a groundbreaking underwritten public offering that could have far-reaching implications in the world of healthcare and disease management.
Here’s the inside scoop: Synlogic is offering up a total of 7,394,363 shares of common stock (or common stock equivalents), along with accompanying common warrants. The combined offering price for each share of common stock and its accompanying warrant is set at $2.84.
But what makes this offering particularly exciting is the accompanying warrants’ immediate exercisability, an exercise price of $3.408 per share, and a generous five-year lifespan from the initial exercise date.
Leading the charge in this offering is Chardan, serving as the sole book-running manager for this groundbreaking venture. The offering is in full compliance with a registration statement on Form S-1 (File No. 333-274421) that was declared effective by the Securities and Exchange Commission (SEC) on September 28, 2023. All of this is being made possible through a prospectus.
What’s the bottom line? Synlogic is poised to receive approximately $21.0 million in total gross proceeds from this offering, with plenty of potential to make an even greater impact in the healthcare arena. The offering is expected to close around October 3, 2023, pending the satisfaction of customary closing conditions.
Stay tuned for what promises to be a game-changing development in the world of biotechnology and healthcare. Synlogic is on a mission to transform the care of serious diseases, and this offering is a major step in that direction.