Gemphire Therapeutics Inc. initiated an underwritten public offering of its common shares.
The company also plans to grant the underwriters an option to buy up to an additional 15% of the common shares.
Gemphire plans to use the net proceeds from the offering for working capital and general corporate purposes.
Piper Jaffray & Co. is acting as the lead book-running manager and Raymond James & Associates Inc. is acting as a book runner for the offering.
