Histogenics Corp. is looking to raise $17 million in gross proceeds from an underwritten public offering of common shares and warrants.
The Waltham, Mass.-based company plans to offer 26,155,000 shares and accompanying warrants to purchase up to 19,616,250 shares, at a combined price of 65 cents per share and warrant.
The warrants will exercisable immediately after issuance at 70 cents per share and will expire after five years.
Histogenics plans to use the proceeds to fund the regulatory approvals and commercialization of its cartilage repair therapy platform called NeoCart and for general corporate purposes.
The offering is expected to close Oct. 10, subject to customary closing conditions.
Canaccord Genuity LLC and BTIG LLC are acting as the joint book-running managers for the offering. H.C. Wainwright & Co. LLC is acting as the co-manager for the offering. CIM Securities LLC acted as a financial adviser to Histogenics in connection with the offering.