PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 3:38 PM
| This Slide: #6 of 609 |
Slide #6. Cidara Therapeutics, Inc. — Preferred Stock Offering
Company:
Cidara Therapeutics, Inc. (NASDAQ:CDTX)
Date announced:
3/2/2023
Shares Offered:
9,640,000
Date of Pricing:
3/3/2023
Price Per Share:
$1.81
Preferred Stock Offering Details:
Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company developing long-acting therapeutics designed to help improve the standard of care for patients facing serious diseases, today announced concurrent but separate underwritten public offerings of its common stock and its Series X Convertible Preferred Stock. The closing of each proposed offering is not contingent upon the closing of the other. All shares to be sold in the offerings will be sold by Cidara, subject to customary closing conditions. -updated 3/3- Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company developing long-acting therapeutics designed to help improve the standard of care for patients facing serious diseases, today announced the pricing of concurrent but separate underwritten public offerings of 9,640,000 shares of its common stock and 286,000 shares of its Series X Convertible Preferred Stock (each share of which is initially convertible into 10 shares of common stock), for aggregate expected gross proceeds of approximately $17.5 million, before deducting underwriting discounts and commissions and estimated offering expenses. The offerings are expected to close on or about March 7, 2023, subject to satisfaction of customary closing conditions. The closing of each offering is not contingent upon the closing of the other. In addition, with respect to the common stock offering, Cidara has granted the underwriter a 30-day option to purchase up to an additional 1,446,000 shares of its common stock.
Cidara Therapeutics is a biotechnology company focused on the discovery, development and commercialization of therapeutics designed for patients facing diseases. Co. is focused on infectious diseases and oncology. Co.'s primary product candidate is rezafungin acetate, an intravenous formulation of an echinocandin antifungal. Rezafungin is being developed as a once-weekly therapy for the first-line treatment and prevention of invasive fungal infections. In addition, Co. is using its Cloudbreak® platform to develop a potential new class of drugs called drug-Fc Conjugates, which target respiratory syncytial virus, human immunodeficiency virus, and the SARS-CoV-2 strains causing COVID-19.
Open the CDTX Page at Preferred Stock Channel »
|
|||||||||||||||||||||
|
|
Open the CDTX Page at Preferred Stock Channel (in a new window) »
 Free CDTX Email Alerts:
Get Dividend Alerts 
Get SEC Filing Alerts
|
Avg. Broker Rec.
|
Strong Buy (4.00 out of 4) 95th percentile
(ranked higher than approx. 95% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
 |
