Zymeworks Announces Pricing Of $100 Mln Public Offering

(RTTNews) - Zymeworks Inc. (ZYME), a clinical-stage biopharmaceutical company developing multifunctional biotherapeutics, said that it has priced its underwritten public offering of 9.16 million common shares and, in lieu of common shares to certain investors, pre-funded warrants to purchase up to 3.34 million common shares.

The common shares are being offered at a public offering price of $8.00 per common share and the pre-funded warrants are being offered at a public offering price of $7.9999 per pre-funded warrant, which represents the per share public offering price for each common share less the $0.0001 per share exercise price for each pre-funded warrant.

Zymeworks expects the gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Zymeworks, to be about $100.0 million.

In addition, Zymeworks has granted the underwriters a 30-day option to purchase up to an additional 1.88 million common shares at the public offering price, less the underwriting discounts and commissions.

The offering is expected to close on or about January 31, 2022.