Ultragenyx Pharmaceutical Inc. (RARE) has announced the pricing of its underwritten public offering, which includes approximately 7.44 million shares of common stock priced at $39.00 per share.
Additionally, the company is offering pre-funded warrants for the purchase of 1,538,501 shares of common stock. These pre-funded warrants are priced at $38.999 each, aligning with the public offering price minus the $0.001 exercise fee per share.
Ultragenyx anticipates gross proceeds of $350 million from the offering, prior to deducting underwriting discounts, commissions, and other related expenses, and excluding any potential exercise of the pre-funded warrants.
Furthermore, the company has granted the underwriters a 30-day option to purchase up to an additional 1,346,153 shares of common stock at the public offering price, adjusted for the underwriting discount.
The offering is projected to close by June 17, 2024.
