Outlook Therapeutics Inc OTLK:NASDAQ

Last Price$1.63NASDAQ Previous Close - Last Trade as of 4:00PM ET 5/17/22

Today's Change+0.03(1.87%)
Bid (Size)$1.62 (16)
Ask (Size)$1.63 (19)
Day Low / High$1.56 - 1.64
Volume479.9 K

Outlook Therapeutics Upsizes Bought-Deal Offering of Common Shares to $50 Million

6:14AM ET 11/24/2021 MT Newswires
Outlook Therapeutics (OTLK) on Tuesday increased its previously announced bought-deal offering of common shares to $50 million in gross proceeds from the initial $10 million.

The company said the underwriter has agreed to purchase on a firm-commitment basis 40 million shares at $1.25 per share. It also granted the underwriter a 30-day option to buy up to an additional 6 million shares.

Net proceeds from the offering will be used for working capital and general corporate purposes, including the ONS-5010 development program.

Shares of the biopharmaceutical firm declined more than 21% during the recent premarket trading activity on Wednesday.