New York biotech company Tyme Technologies Inc. priced its underwritten public offering of 9 million common shares at $2.25 apiece, which works out to about $20.3 million.
The company also granted underwriters a 30-day option to buy up to an additional 1,350,000 common shares at the offering price, minus underwriting discounts and commissions.
Tyme expects the offering to close March 6. The cancer therapy developer plans to use the net proceeds to develop its lead clinical program and to fund general corporate purposes.
Evercore Group LLC and Stifel are acting as joint book-running managers and as representatives of the underwriters for the offering. Canaccord Genuity Inc. is also serving as book runner, while H.C. Wainwright & Co. is acting as a co-manager.
