Pluristem Therapeutics Inc. upsized a previously announced bought-deal offering by $5 million.
The company plans to issue 12,244,898 shares at $1.225 apiece to H.C. Wainwright & Co. LLC for gross proceeds of $15 million, complete with warrants for another 7,346,939 shares.
The warrants are exercisable at $1.40 apiece. The issue is expected to close on or about Jan. 25 and will help the company raise funds for continued research and development, among other things.
Wainwright can purchase a further 1,836,735 shares and 1,102,041 warrants under an overallotment option, which, if exercised in full, will net Pluristem $17.3 million in gross proceeds.
Pluristem was previously offering 8,163,265 shares that were bundled with warrants for an additional 4,897,959 stock. The original issue would have generated $10 million for the company.