Corporate ActionMay 5, 2026, 11:36 PM
Avalo Therapeutics Prices Public Offering to Raise $375M
AI Summary
Avalo Therapeutics announced the pricing of its underwritten public offering, expecting to raise approximately $375 million in gross proceeds. The offering includes 19,730,000 shares of common stock at $17.75 per share and 1,400,000 pre-funded warrants at $17.749 per warrant. The company plans to use the net proceeds to advance the clinical development of abdakibart, including its Phase 3 topline data release, and for general corporate purposes. The offering is expected to close on May 7, 2026.
Key Highlights
- Avalo Therapeutics priced an underwritten public offering to raise approximately $375 million in gross proceeds.
- The offering includes 19,730,000 shares of common stock at $17.75 per share.
- It also includes 1,400,000 pre-funded warrants at $17.749 per pre-funded warrant.
- Underwriters have a 30-day option to purchase up to an additional 3,169,500 shares.
- Net proceeds will fund abdakibart's Phase 3 clinical development and general corporate purposes.
- The offering is expected to close on May 7, 2026.