Impel NeuroPharma To Raise $45M Via Equity Offering

Impel NeuroPharma Inc's IMPL has priced its previously announced underwritten public offering of 3 million shares at $15.00 per share for gross proceeds of $45 million.
The offer price represents a steep discount of 29% from the last close price of $21.13 on Thursday. The company's stock gained 27.25% to close higher on Thursday at $21.13.
See the offer prospectus here.
Underwriters have an option to purchase 0.45 million shares. The offering will close by September 14.
Impel will use the proceeds to fund the commercial launch activities and market development of Trudhesa, advance INP105 into a clinical proof-of-concept trial in patients with ASD.
Related Content: FDA Gives Nod To Nasal Spray Migraine Treatment From Impel NeuroPharma.
Read Next: Cowen Sees 100% Upside For This Medical Device Firm.
Price Action: IMPL stock is down 12.92% at $18.40 during the premarket session on the last check Friday.