Company to offer 1.4 million-2 million shares at $6.00 apiece
By Marisa Wong
Morgantown, W.Va., May 3 – Moleculin Biotech, Inc. plans to raise up to $12 million in its initial public offering of common stock, according to a 424B4 filing with the Securities and Exchange Commission.
The company plans to offer a minimum of 1.4 million shares and a maximum of 2 million shares at $6.00 per share.
Bonwick Capital Partners LLC is the underwriter for the offering.
Proceeds will be used primarily for a clinical trial, license maintenance and working capital.
The offering should close prior to July 1.
The company’s stock has been approved for listing on the Nasdaq Capital Market under the symbol, “MBRX.”
The preclinical and clinical-stage pharmaceutical company is based in Houston.
| Issuer: | Moleculin Biotech, Inc.
|
| Issue: | Common stock
|
| Amount: | $8.4 million-$12 million
|
| Shares: | 1.4 million-2 million
|
| Price: | $6.00
|
| Warrants: | No
|
| Underwriter: | Bonwick Capital Partners LLC
|
| Co-manager: | Network 1 Financial Securities, Inc.
|
| Pricing date: | May 2
|
| Settlement date: | By July 1
|
| Stock symbol: | Nasdaq: MBRX
|
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