Xencor, Inc. (XNCR), a company currently in the clinical stages of biopharmaceutical research, announced on Wednesday the pricing of its public offering. The company is offering 6.64 million shares at a price of $18 per share.
Additionally, Xencor has priced pre-funded warrants to purchase up to 3.09 million common shares at $17.99 per pre-funded warrant. These pre-funded warrants are immediately exercisable, with an exercise price set at $0.01 per share.
The net proceeds, estimated to be around $175 million, will be allocated for general corporate purposes. This includes funding research and development, capital expenditures, working capital, and covering general and administrative expenses.
Leerink Partners, Raymond James, and RBC Capital Markets are serving as the joint book-running managers for this offering, which is projected to close by September 12.
