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Aileron Therapeutics Announces $35.9 Million Registered Direct Offering
WATERTOWN, Mass., Jan. 06, 2021 (GLOBE NEWSWIRE) -- Aileron Therapeutics, Inc. (Nasdaq: ALRN), today announced that it has entered into definitive agreements
About this update from Rein Therapeutics, Inc.
[{"type":"text","content":"WATERTOWN, Mass., Jan. 06, 2021 (GLOBE NEWSWIRE) -- Aileron Therapeutics, Inc. (Nasdaq: ALRN), today announced that it has entered into definitive agreements with fundamental healthcare investors for the purchase and sale of 32,630,983 of its shares of common stock at a purchase price of $1.10 per share in a registered direct offering priced at-the-market under Nasdaq rules. The closing of the offering is expected to occur on or about January 8, 2021, subject to the satisfaction of customary closing conditions. JonesTrading Institutional Services LLC (\"JonesTrading\") is acting as the placement agent for the offering. The gross proceeds to Aileron from the offering are expected to be $35.9 million, before deducting the placement agent's fees and other offering expenses payable by Aileron. Aileron intends to use the net proceeds from the public offering, together with its existing cash, cash equivalents and short-term investments, to fund clinical development of ALRN-6924 as a chemoprotective agent and for working capital and other general corporate purposes. The shares are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-226650) that was filed with the United States Securities and Exchange Commission (\"SEC\") on August 7, 2018, and declared effective by the SEC on July 15, 2019. A prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. The offering is being made only by means of a prospectus and related prospectus supplement. When available, electronic copies of the prospectus supplement and the accompanying prospectus may also be obtained from JonesTrading Institutional Services LLC by calling (212) 907-5332, or by e-mailing [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 offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Aileron Therapeutics Aileron is clinical-stage biopharmaceutical company that is focused on transforming the experience of chemotherapy for cancer patients, enabling them to...