ProKidney Corp. (PROK) has announced the pricing for an underwritten public offering and a concurrent registered direct offering, totaling approximately 53.72 million shares of its Class A ordinary shares at $2.42 per share, before underwriting discounts and commissions.
Additionally, the underwriters have a 30-day option to purchase up to an additional 15% of the Class A ordinary shares from the underwritten public offering.
Both the public offering and the concurrent registered direct offering are anticipated to close on or around June 13, 2024.
ProKidney plans to utilize the net proceeds from these offerings for various purposes, including clinical trial costs, research and development expenses, investments in its drug development platform, as well as pre-commercial and commercial activities such as its commercial manufacturing facility. The funds will also support general corporate purposes, including working capital, capital expenditures, and administrative expenses.
