Praxis Precision Medicines Announces Pricing Of Underwritten Public Offering

(RTTNews) - Praxis Precision Medicines, Inc. (PRAX) announced the pricing of underwritten public offering of 3,318,585 shares of common stock at a public offering price per share of $56.50 and, in lieu of shares of common stock, pre-funded warrants to purchase up to an aggregate of 221,238 shares of common stock at a purchase price of $56.4999 per pre-funded warrant, which equals the public offering price per share of the common stock less the $0.0001 per share exercise price of each pre-funded warrant. The gross proceeds from the offering are expected to be approximately $200 million.

Also, the company has granted the underwriters a 30-day option to purchase up to 530,973 additional shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about April 2, 2024.