Arcellx Prices Underwritten Follow-on Offering Of 7 Mln Shares At $16.00/shr

(RTTNews) - Arcellx Inc. (ACLX) announced the pricing of an upsized underwritten follow-on offering of 7 million shares of common stock at a price to the public of $16.00 per share. It expects gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, to be about $112 million.

In addition, Arcellx has granted the underwriters a 30-day option to purchase up to an additional 1.05 million shares of common stock on the same terms and conditions.

The offering was upsized to 7 million shares of Arcellx's common stock from the original offering size of 4 million shares.

The offering is expected to close on June 21, 2022.