DENVER, Colo., Oct 23, 2023 (www.247marketnews.com)- Harpoon Therapeutics, Inc. (NASDAQ: HARP) stated, this morning, that it entered into a securities purchase agreement for a private placement in public equity (“PIPE”) financing, led by a leading biotechnology investor associated with one of the largest alternative asset managers, that is expected to result in upfront gross proceeds of approximately $100 million, with up to an additional approximately $50 million of gross proceeds upon cash exercise of warrants, before deducting placement agent fees and offering expenses.
PIPE financing is expected to close on or about October 25, 2023, subject to satisfaction of customary closing conditions, and calls for the Company to issue an aggregate of 17,167,350 shares of its common stock (or pre-funded warrants in lieu thereof) and accompanying warrants to purchase up to an aggregate of 8,583,675 shares of its common stock, at a combined purchase price of $5.8345 per share and accompanying warrant, representing the right to purchase one share of the Company’s common stock at an exercise price of $5.8345 per share.
Harpoon Therapeutics is trading at $7.53, up $0.65 (+9.45%) on 897.3K premarket shares traded.
Its 52-week range is $ 3.11 to 33.548 It hit its 52-week low two weeks ago and its next key inflection point is $8.
24/7 MARKET NEWS, INC Disclaimer
24/7 MARKET NEWS (“24/7 MN”) is dedicated to covering various underreported segments of the stock markets. Our goal is to help you to better understand these markets, but 24/7 MN is neither an investment advisor nor a financial advisor, and no information provided here is to be interpreted as a suggestion to buy or sell stocks or other investment products. All opinions, news, research, analysis, prices or other information contained on 247marketnews.com, its press releases, or other services are provided for educational purposes only and do not constitute investment advice. You are solely responsible for the investment decisions you make.