Scholar Rock Holding Corp. (SRRK) has announced the pricing for an increased underwritten public offering, consisting of 10.27 million shares of its common stock priced at $28.25 per share. Additionally, for investors opting for an alternative to common stock, the company is offering pre-funded warrants for 353,983 shares at a rate of $28.2499 per warrant, reflecting the common stock's public offering price minus a nominal exercise price of $0.0001 per share.
This offering is anticipated to be finalized by October 10, 2024. Scholar Rock has also provided the underwriters with a 30-day option to acquire up to an additional 1.59 million shares of common stock at the set public offering price, deducting applicable underwriting discounts and commissions.
Prior to accounting for underwriting discounts, commissions, and expenses associated with the offering, the company estimates the gross proceeds to be around $300 million, excluding any exercise of the pre-funded warrants.
The net proceeds from this offering are intended for the commercialization of apitegromab, the advancement of current and future clinical programs, further development of its technology platform, and continued progression of its clinical and preclinical pipeline, alongside allocations for working capital and other general corporate needs.
