Corporate ActionMay 5, 2026, 05:12 PM
Clene Announces $7M Underwritten Offering of Common Stock
AI Summary
Clene Inc. announced an underwritten public offering of 1,000,000 shares of common stock at $7.00 per share, expecting to raise approximately $7 million in gross proceeds. The net proceeds, estimated at $6.4 million after expenses, will be used for general corporate purposes, including funding the New Drug Application (NDA) for its lead drug candidate CNM-Au8, supporting ongoing clinical trials, manufacturing expansion, and future commercialization efforts. The offering is expected to close on May 6, 2026, with Canaccord Genuity LLC acting as the sole bookrunner. Certain insiders are subject to a 60-day lock-up period.
Key Highlights
- Clene to sell 1,000,000 shares of common stock at $7.00 per share.
- Gross proceeds from the offering are expected to be $7 million.
- Estimated net proceeds are approximately $6.4 million after expenses.
- Underwriting discounts and commissions are 6.5% of gross proceeds.
- Proceeds will fund NDA for CNM-Au8, Phase 3 clinical trial, and manufacturing expansion.
- Company and certain insiders are subject to a 60-day lock-up period.
Price Impact
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