ArQule Announces Commencement of Proposed Public Offering of Common Stock
ARQULE (ARQL)
Last arqule earnings: 10/30 07:00 am
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US:NASDAQ Investor Relations:
investors.arqule.com/investor-relations
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Source: Business Wire
BURLINGTON, Mass.--(BUSINESS WIRE)--ArQule, Inc. (Nasdaq: ARQL) today announced that it has commenced an underwritten public offering, subject to market and other conditions, to issue and sell shares of its common stock. In connection with the offering, ArQule expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering. There can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the shares in the offering are to be sold by ArQule.The Company intends to use the net proceeds of the offering to fund its core clinical programs and for general corporate purposes.SVB Leerink and RBC Capital Markets are acting as joint bookrunning managers for the offering.The securities described above are being offered by ArQule pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was filed by ArQule
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