MEI Pharma Raises $45M Via Equity Issued At 14% Discount

MEI Pharma Inc MEIP priced the underwritten public offering of 17.5 million shares at $2.60/share for gross proceeds of $45.5 million.
The offer price represents a discount of almost 14% from the last close price of $3.03 on Wednesday. The offering will close by December 29.
Jefferies, Stifel, and Wells Fargo Securities are acting as joint book-running managers.
LifeSci Capital and H.C. Wainwright & Co. are acting as co-managers.
The Company will use the proceeds of the offering and other available funds to progress its clinical development programs and prepare for and support the commercial launch of zandelisib.
Related Link: MEI Pharma, Kyowa Kirin Reveal Data From Zandelisib Trial In Follicular Lymphoma.
Price Action: MEIP shares are down 13.4% at $2.62 during the market session on the last check Thursday.