Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Thu, December 2, 6:54 PM
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Slide #63. 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 in unmet need areas. Co.'s product candidate, Tebipenem Pivoxil Hydrobromide, is designed to be an oral carbapenem-class antibiotic for use in adults to treat involving multi-drug resistant (MDR) Gram-negative infections. Co. is also developing SPR720, an oral antibiotic designed for the treatment of an orphan disease caused by non-tuberculous mycobacterial pulmonary infections. Co. is advancing SPR206, a polymyxin investigational product candidate, being developed as an IV-administered medicine to treat MDR Gram-negative infections in the hospital.
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Strong Buy (3.60 out of 4)
(ranked higher than approx. 56% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com