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Shattuck Labs Announces $50 Million Public Offering of Common Stock and Concurrent Private Placement of Pre-Funded Warrants
AUSTIN, TX and DURHAM, NC, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Shattuck Labs, Inc. (“Shattuck” or the “company”) (NASDAQ: STTK), a clinical-stage biotechnology
About this update from Shattuck Labs, Inc.
[{"type":"text","content":"AUSTIN, TX and DURHAM, NC, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Shattuck Labs, Inc. (“Shattuck” or the “company”) (NASDAQ: STTK), a clinical-stage biotechnology company pioneering the development of bi-functional fusion proteins as a new class of biologic medicine for the treatment of patients with cancer and autoimmune disease, today announced the pricing of a registered offering of 4,651,163 shares of common stock, par value $0.0001 (the “common stock”), at a price of $6.45 per share, which is priced at the closing price on Nasdaq for the common stock on December 20, 2023. In addition to the shares sold in the registered offering, Shattuck announced the concurrent pricing of a private placement of pre-funded warrants to purchase 3,100,823 shares of common stock at a purchase price of $6.4499 per pre-funded warrant, which represents the per share offering price for the common stock less the $0.0001 per share exercise price for each pre-funded warrant. The gross proceeds to Shattuck from the registered offering and private placement, before deducting the underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $50 million. The offering is expected to close on or about December 26, 2023, subject to customary closing conditions. Evercore ISI is acting as sole book-running manager for the offering. Shattuck intends to use the net proceeds from the registered offering and the private placement for the development of its pipeline candidates, including SL-172154, and working capital and general corporate purposes. A shelf registration statement on Form S-3 (File No. 333-263553) relating to the registered offering was filed with the Securities and Exchange Commission (“SEC”) on March 15, 2022 and declared effective on July 29, 2022. The registered offering is being made only by means of a prospectus, including a prospectus supplement, forming a part of an effective registration statement. A final prospectus supplement and accompanying prospectus relating to the offering shares will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055; b...