Benzinga | Oct 7, 2021 04:01PM EDT

Cidara Therapeutics Begins Concurrent Common, Preferred Stock Offering, No Size Disclosed

Cidara Therapeutics, Inc. (NASDAQ:CDTX), a biotechnology company developing long-acting therapeutics designed to improve the standard of care for patients facing serious diseases, today announced that it has commenced concurrent but separate underwritten public offerings of its common stock and its Series X Convertible Preferred Stock. With respect to the common stock offering, Cidara also expects to grant the underwriters a 30-day option to purchase additional shares of its common stock at the public offering price. The closing of each proposed offering is not contingent upon the closing of the other. The offerings are subject to market conditions, and there can be no assurance as to whether or when either or both of the offerings will be completed, or as to the actual size or terms of the offerings.

Cantor Fitzgerald & Co. is acting as the sole book-running manager for each offering.

The securities described above are being offered by Cidara pursuant to a shelf registration statement, which has been declared effective by the Securities and Exchange Commission (SEC). Preliminary prospectus supplements and the accompanying prospectus relating to the offerings will be filed with the SEC and will be available for free on the SEC's website at http://www.sec.gov. Copies of the preliminary prospectus supplements and accompanying prospectus relating to these offerings, when available, may be obtained from: Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Ave., 4th Floor, New York, New York 10022, or by e-mail at prospectus@cantor.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.