Viking Therapeutics Inc. stockholders plan to sell up to 2,552,337 of the company's common shares, which are issuable upon exercise of warrants to buy common shares.
The proposed maximum aggregate offering price is about $9.6 million or $3.75 per share.
The warrants are exercisable, have a term of five years from the date of issuance and have an exercise price of $1.30 per common share.
Viking will receive no proceeds from the sale of the shares but may receive cash proceeds from the sale of the warrants that are exercised for cash.
The company plans to use the proceeds to provide capital support or for general corporate purposes, which may include supporting asset growth and engaging in acquisitions or other business combinations.
No underwriter or other person has been engaged to facilitate the sale of the shares in this offering.
