Rocket Pharma Prices Upsized Public Offering Of 13.2 Mln Shares At $12.50/shr; Stock Down

Rocket Pharmaceuticals

12.22 USD 6.63%

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Kaufen / Verkaufen

(RTTNews) - Rocket Pharmaceuticals, Inc. (RCKT), a late-stage biotechnology company, Wednesday said it has priced an upsized public offering of 13.2 million shares at $12.50 per share. The company's shares were down more than 4 percent in pre-market.

Additionally, the company has granted the underwriters a 30-day option to purchase up to an additional 1.98 million shares.

The gross proceeds from the offering are expected to be about $165 million.

Morgan Stanley, Leerink Partners and Cantor are acting as joint book-running managers for the offering, which is expected to close by December 12, 2024.

Rocket stock had closed at $13.51, down 2.38 percent on Tuesday. It has traded in the range of $12.62 - $32.53 in the last 1 year.