Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, April 1, 3:47 PM
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Slide #99. 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 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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Buy (3.00 out of 4)
(ranked lower than approx. 70% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com