- Cyclo Therapeutics Inc CYTH has priced its previously announced underwritten public offering of 1.95 million shares at $6.00 per share, with gross proceeds of $11.7 million.
- The offer price represents a steep discount of 18% from the last close price of $7.34 on Tuesday.
- The underwriter has an option to purchase up to an additional 292,500 shares.
- Maxim Group LLC is acting as the sole book-running manager for the offering.
- Cyclo will use the proceeds to proceed with Phase 3 trial for NPC with Trappsol Cyclo, fund further development of preclinical programs and general purposes.
- See the offer prospectus here.
- Related link: Cyclo Therapeutics Shares Jump After Filing To Start Alzheimer's Trial In US.
- Price Action: CYTH shares are down 20.60% at $5.83 during the premarket session on the last check Wednesday.
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