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Capricor Therapeutics Announces Closing of Underwritten Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares
SAN DIEGO, Oct. 18, 2024 (GLOBE NEWSWIRE) -- Capricor Therapeutics (NASDAQ: CAPR), a biotechnology company developing transformative cell and exosome-based
About this update from Capricor Therapeutics, Inc.
[{"type":"text","content":"SAN DIEGO, Oct. 18, 2024 (GLOBE NEWSWIRE) -- Capricor Therapeutics (NASDAQ: CAPR), a biotechnology company developing transformative cell and exosome-based therapeutics for the treatment of rare diseases, announced today the closing of its previously announced underwritten public offering of 5,073,800 shares of its common stock, including the exercise in full of the underwriters’ option to purchase additional shares to cover over allotments, bringing the total gross proceeds to Capricor from the offering to approximately $86.3 million, before deducting underwriting commissions and other offering expenses payable by Capricor. All of the shares of common stock sold in the offering, including the over-allotment, were offered by Capricor. The closing of the offering occurred on October 18, 2024. Piper Sandler & Co. and Oppenheimer & Co. Inc. acted as the joint book-running managers for the offering. The Company intends to use the net proceeds from this offering on the continued development of its product candidates, manufacturing of its product candidates, working capital and general corporate purposes. The securities were offered by the Company pursuant to an effective shelf registration statement on Form S-3 (File No. 333-280229) that was originally filed with the Securities and Exchange Commission (“SEC”) on June 14, 2024 and declared effective on October 16, 2024. The offering was made only by means of a prospectus and related prospectus supplement. A preliminary prospectus supplement relating to the offering was filed with the SEC on October 16, 2024. The final prospectus supplement relating to and describing the terms of the offering was filed with the SEC on October 17, 2024 and is available on the SEC's website at www.sec.gov. Electronic copies of the prospectus supplement and the accompanying prospectus may also be obtained from Piper Sandler & Co. at 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Attention: Prospectus and Oppenheimer & Co. Inc. at Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, by telephone at (212) 667-8055, or by email at [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such o...