Provention Bio Inc. priced its public offering of 5 million common shares at $8 apiece.
The Oldwick, N.J.-based biopharmaceutical company also granted underwriters a 30-day option to buy up to an additional 750,000 shares under the offer.
Provention Bio expects gross proceeds of $40 million from the offering.
The offering is expected to close on or about Sept. 23, subject to customary closing conditions.
In addition, the company is selling 2.5 million common shares at $8 apiece in a private placement to Thousand Oaks, Calif.-based Amgen Inc. Provention Bio expects $20 million in gross proceeds from the placement.
Provention Bio intends to use net proceeds from the public offering and private placement for general corporate purposes, including the advancement of product candidates.
SVB Leerink and Cantor Fitzgerald & Co. are acting as joint book-running managers for the public offering, while H.C. Wainwright & Co. is acting as lead manager for the same offer.
