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Protara Therapeutics Announces Proposed Concurrent Public Offerings of Common Stock and Preferred Stock
NEW YORK, Sept. 21, 2020 (GLOBE NEWSWIRE) -- Protara Therapeutics, Inc. (Nasdaq: TARA), a clinical-stage company developing transformative therapies for the
About this update from Protara Therapeutics, Inc.
[{"type":"text","content":"NEW YORK, Sept. 21, 2020 (GLOBE NEWSWIRE) -- Protara Therapeutics, Inc. (Nasdaq: TARA), a clinical-stage company developing transformative therapies for the treatment of cancer and rare diseases with significant unmet needs, today announced that it intends to offer and sell shares of its common stock and Series 1 convertible preferred stock in two concurrent but separate underwritten public offerings (together, the “Offerings”). The Offerings are subject to market and other conditions, and there can be no assurance as to whether or when the Offerings may be completed, or the actual size or terms of the Offerings.\n Cowen and Guggenheim Securities are acting as joint book-running managers. Oppenheimer & Co. is acting as lead manager for the Offerings, and H.C. Wainwright & Co. is acting as co-manager for the Offerings. Protara expects to grant the underwriters a 30-day option to purchase additional shares of common stock in the proposed common stock offering of up to 15% of the aggregate number of shares offered in the common stock offering. Protara intends to use the net proceeds from the Offerings primarily for development activities associated with TARA-002 in non-muscle invasive bladder cancer, lymphatic malformations and potential exploration of additional indications, and the remainder of the net proceeds for general corporate purposes and working capital. The securities described above are being offered by Protara pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (“SEC”), which became effective on May 26, 2020. A preliminary prospectus supplement relating to each of the Offerings will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the preliminary and final prospectus supplements relating to the Offerings may be obtained, when available, by contacting Cowen at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York, 11717, Attention: Prospectus Department, by email at [email protected] or by telephone at (833) 297-2926; or Guggenheim Securities at 330 Madison Avenue, New York, NY 10017, Attention: Equity Syndicate Department, by telephone at (212) 518-9544 or by email at [email protected]. This press release shall not constitute an of...