Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) has closed a registered public offering of its stock, raising around $50 million gross.
The biopharmaceutical company offered more than 32.2 million shares at a price of $1.55 per share. The underwriters of the deal have been granted a 30-day option to purchase up to an additional 4.8 million shares.
READ: Matinas BioPharma evaluates formulating compounds using its LNC technology with Roche’s Genentech
Matinas plans to use the proceeds to further develop MAT9001, its prescription-only omega 3 fatty acid, and other product candidates.
The sole lead active bookrunner for the offering was Piper Sandler & Co.
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