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Rocket Pharmaceuticals to raise almost $85M from common stock offering


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Rocket Pharmaceuticals to raise almost $85M from common stock offering

Rocket Pharmaceuticals Inc. priced a public offering of its common stock to raise almost $85 million in gross proceeds.

The New York-based biotechnology company is offering 3,820,000 shares at $22.25 apiece. Underwriters will also receive an option to buy up to an additional 573,000 shares.

The offering is scheduled to close Dec. 13.

J.P. Morgan, Cowen and Evercore ISI are acting as joint book-running managers for the offering, while LifeSci Capital LLC is acting as co-manager.

Rocket intends to use the net proceeds to develop its gene therapies for rare diseases, aid the expansion of in-house manufacturing capabilities and for general corporate purposes.

In April, the company raised $90.6 million for similar purposes in an underwritten offering of 5,175,000 common shares at $17.50 apiece.