Benzinga | Jul 1, 2021 07:26AM EDT

Aligos Therapeutics Raises $84M Via Equity At 7% Discount

* Aligos Therapeutics Inc (NASDAQ:ALGS) has priced a previously announced underwritten public offering of 4.4 million shares at $19 per share, representing a discount of 7% from the last close price of $20.3 on Wednesday.

* The gross proceeds will be approximately $83.6 million.

* Underwriters have an option to purchase up to an additional 660,000 shares.

* The offering will close by July 6.

* J.P. Morgan, Jefferies, and Piper Sandler are acting as the joint book-running managers for the offering. Cantor is acting as a lead manager for the offering.

* Recently, the company announced preliminary data in healthy volunteers from Phase 1a/b multi-part trial of Aligos' S-antigen Transport-inhibiting Oligonucleotide Polymers (STOPS) compound ALG-010133.

* Price Action: ALGS shares closed at $20.3 on Wednesday.