Proteostasis Therapeutics Prices Public Offering of Common Stock
PROTEOSTASIS THERAPEUTICS (PTI)
Last proteostasis therapeutics earnings: 3/10 04:36 pm
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US:NYSE Investor Relations:
ir.proteostasis.com/investor-overview
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Source: GlobeNewswire
CAMBRIDGE, Mass., Dec. 13, 2017 (GLOBE NEWSWIRE) -- Proteostasis Therapeutics, Inc. (Nasdaq:PTI), a clinical stage biopharmaceutical company dedicated to the discovery and development of groundbreaking therapies to treat cystic fibrosis (CF) and other diseases caused by dysfunctional protein processing, announced today that it has priced an underwritten public offering of 8,000,000 shares of its common stock at a price to the public of $5.00 per share. The gross proceeds to Proteostasis from the offering, before underwriting discounts and commissions and offering costs, are expected to be $40 million. Proteostasis has granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of common stock. All of the shares to be sold in the offering are being sold by Proteostasis. The offering is expected to close on or about December 18, 2017, subject to satisfaction of customary closing conditions. Proteostasis intends to use the net proceeds from the proposed o
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