Arcutis Announces Closing of Public Offering of Common Stock and Full Exercise by Underwriters of Option to Purchase Additional Shares
WESTLAKE VILLAGE, Calif., March 04, 2024 (GLOBE NEWSWIRE) -- Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) a commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology, today announced the closing of its previously announced underwritten public offering of 18,157,895 shares of common stock at a public offering price of $9.50 per share, which includes 2,368,421 shares issued upon the exercise in full by the underwriters of their option to purchase additional shares of common stock at the public offering price, less underwriting discounts and commissions.
- WESTLAKE VILLAGE, Calif., March 04, 2024 (GLOBE NEWSWIRE) -- Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) a commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology, today announced the closing of its previously announced underwritten public offering of 18,157,895 shares of common stock at a public offering price of $9.50 per share, which includes 2,368,421 shares issued upon the exercise in full by the underwriters of their option to purchase additional shares of common stock at the public offering price, less underwriting discounts and commissions.
- The total gross proceeds of the public offering were approximately $172.5 million, before deducting underwriting discounts and commissions and offering expenses payable by Arcutis.
- All of the shares in the public offering were sold by Arcutis.
- Morgan Stanley, TD Cowen, and Guggenheim Securities acted as joint lead bookrunning managers for the offering.