Business
Avalo Therapeutics, Inc. Announces Closing of a $31.5 Million Public Offering of Common Stock, Including Proceeds from Exercise of Option to Purchase Additional Shares
WAYNE, Pa. and ROCKVILLE, Md., Sept. 17, 2021 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (“Avalo” or the “Company”) (Nasdaq: AVTX), a leading clinical-stage
About this update from Avalo Therapeutics, Inc.
[{"type":"text","content":"WAYNE, Pa. and ROCKVILLE, Md., Sept. 17, 2021 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (“Avalo” or the “Company”) (Nasdaq: AVTX), a leading clinical-stage precision medicine company that discovers, develops, and commercializes targeted therapeutics for patients with significant unmet clinical need in immunology, immuno-oncology, and rare genetic diseases, announced today the closing of the previously announced underwritten offering of common stock, including the purchase of 1,808,878 additional shares pursuant to the exercise by the underwriters of their option to purchase additional shares at a public offering price of $2.20 per share. The exercise of the option to purchase additional shares brought the total number of shares of common stock sold by Avalo to 14,308,878 shares and increased the amount of gross proceeds raised in the offering, before underwriting discounts and estimated expenses of the offering payable by Avalo, to approximately $31.5 million. Jefferies and RBC Capital Markets are acting as joint book-running managers for the offering. The shares of common stock described above are being offered by Avalo pursuant to an effective shelf registration statement on Form S-3 (File No. 333-254000), previously filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 8, 2021 and declared effective by the SEC on March 19, 2021, and the accompanying prospectus contained therein. The offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering has been filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained on the SEC’s website at http://www.sec.gov or by contacting Jefferies LLC at 520 Madison Avenue, 2nd Floor, New York, NY 10022, Attention: Equity Syndicate Prospectus Department, by e-mail at [email protected] or by calling (877) 547-6340; and RBC Capital Markets, LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281-8098 or by telephone at 877-822-4089 or by email at [email protected]. This press release shall not constitute an offer to sell...