PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 4:23 PM
| This Slide: #178 of 609 |
Slide #178. Spero Therapeutics, Inc. — Preferred Stock Offering
Company:
Spero Therapeutics, Inc. (NASDAQ:SPRO)
Date announced:
7/9/2018
Shares Offered:
3,780,000
Date of Pricing:
7/12/2018
Price Per Share:
$12.50
Preferred Stock Offering Details:
Spero Therapeutics, Inc. (Nasdaq:SPRO) (Spero), a multi-asset clinical-stage biopharmaceutical company focused on identifying, developing and commercializing novel treatments for multidrug-resistant (MDR) bacterial infections, today announced that it has commenced an underwritten public offering of 4,500,000 shares of its common stock. All of the shares in the offering will be sold by Spero. In addition, Spero expects to grant the underwriters a 30-day option to purchase up to an additional 675,000 shares of common stock at the public offering price, less the underwriting discount. -updated 7/12- Spero Therapeutics, Inc. (Nasdaq:SPRO), a multi-asset clinical-stage biopharmaceutical company focused on identifying, developing and commercializing novel treatments for multidrug-resistant bacterial infections, today announced the pricing of an underwritten public offering of 3,780,000 shares of its common stock and 2,220 shares of its non-voting Series A Convertible Preferred Stock. The public offering price of each share of common stock is $12.50 and the public offering price of each share of Series A Preferred Stock is $12,500.00. The gross proceeds to Spero from this offering are $75,000,000, before deducting underwriting discounts and commissions, and other estimated offering expenses payable by Spero. All of the shares in the offering will be sold by Spero. In addition, Spero has granted the underwriters a 30-day option to purchase up to an additional 567,000 shares of common stock at the public offering price, less the underwriting discount. The offering is expected to close on July 17, 2018, subject to customary closing conditions.
Spero Therapeutics is a biopharmaceutical company focused on identifying, developing, and commercializing treatments involving bacterial infections, including multi-drug resistant bacterial infections, and rare diseases where there is high unmet medical and patient need. Co.'s product candidate, tebipenem pivoxil hydrobromide, is designed to be the oral carbapenem-class antibiotic for use to treat certain bacterial infections that cause complicated urinary tract infections, including pyelonephritis, caused by certain microorganisms, in adult patients who have limited oral treatment options. Co.'s pipeline also includes SPR720, an oral treatment for non-tuberculous mycobacterial infection.
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Avg. Broker Rec.
 
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Buy (3.00 out of 4) 30th percentile
(ranked lower than approx. 70% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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