Benzinga | Mar 24, 2021 08:32AM EDT

CASI Pharmaceuticals Prices ~15.85M Share Common Stock Offering At $2.05/Share

ROCKVILLE, Md. and BEIJING, March 24, 2021 /PRNewswire/ -- CASI Pharmaceuticals, Inc. (NASDAQ:CASI), a U.S. biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products, today announced the pricing of an underwritten public offering of 15,853,658 shares of its common stock at a price to the public of $2.05 per share. CASI has granted the underwriters an option to purchase up to an additional 2,378,048 shares of common stock, which terminates on the earlier of 30 days and the day before CASI files to the U.S. Securities and Exchange Commission ("SEC") its Annual Report on Form 10-K for the fiscal year ended December 31, 2020. The offering is expected to close on or about March 26, 2021, subject to satisfaction of customary closing conditions. The gross proceeds to CASI from the offering, excluding any exercise by the underwriters of their option to purchase additional shares, are expected to be approximately $32.5 million, before deducting underwriting discounts and commissions and other offering expenses payable by CASI.