Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Fri, October 23, 7:03 AM
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Slide #3. Spero Therapeutics, Inc. — Preferred Stock Offering
Spero Therapeutics, Inc. (NASDAQ:SPRO)
Preferred Stock Offering Details:
Spero Therapeutics, Inc. (Nasdaq: SPRO), a multi-asset clinical-stage biopharmaceutical company focused on identifying, developing and commercializing treatments in high unmet need areas involving multidrug-resistant (MDR) bacterial infections and rare diseases, today announced that it has commenced an underwritten public offering of 8,000,000 shares of common stock in the aggregate, consisting of an offering of shares of common stock (the "common stock offering") and shares of non-voting Series D Convertible Preferred Stock with each share of Series D Convertible Preferred Stock being convertible into 1,000 shares of common stock. All of the securities in the offering will be sold by Spero. In addition, Spero expects to grant the underwriters in the common stock offering a 30-day option to purchase up to an additional 15% of the shares of common stock at the public offering price, less the underwriting discounts and commissions.
Spero Therapeutics is a multi-asset, clinical-stage biopharmaceutical company focused on identifying, developing and commercializing treatments involving multi-drug resistant (MDR), bacterial infections and rare diseases. Co.'s product candidate, Tebipenem Pivoxil Hydrobromide, is designed to be oral carbapenem-class antibiotic for use in adults to treat MDR Gram-negative infections. Co. is developing SPR720, an oral antibiotic designed for the treatment of a rare, orphan disease caused by pulmonary non-tuberculous mycobacterial infections. Co.'s platform, Potentiator Platform, that includes an IV-administered product candidate, SPR206 to treat MDR Gram-negative infection in the hospital.
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Strong Buy (3.57 out of 4)
(ranked higher than approx. 68% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com