Actuate Therapeutics Confirms $15 Million Common Stock Offering
Actuate Therapeutics Pricing Announcement
Actuate Therapeutics, Inc. (NASDAQ: ACTU), a dedicated clinical-stage biopharmaceutical company specializing in therapies for hard-to-treat cancers, has made significant news with its recent public offering. The company has priced its underwritten public offering at $7.00 per share, totaling approximately 2,142,858 shares. This strategic move aims to raise around $15 million to further support its innovative cancer treatment therapies.
Details of the Public Offering
The offering includes a provision for underwriters to purchase up to an additional 321,428 shares at the public offering price within 30 days. This offering is part of Actuate's consistent efforts to fund its ongoing research and development initiatives in oncology. The anticipated closing date for this offering is set for September 11, 2025, provided that all customary conditions are met.
Role of Financial Advisors
Lucid Capital Markets has been designated as the sole book-running manager for this offering, showcasing its expertise in managing such financial transactions. Titan Partners Group, a division of American Capital Partners, is serving as a financial advisor, ensuring that the company is well-supported through the process.
Intended Use of Proceeds
The gross proceeds from this offering will be pivotal for Actuate as they aim to utilize these funds for working capital and broader corporate purposes. The company has expressed a strategic intent behind this decision, emphasizing its commitment to advancing their substantial pipeline of innovative therapies.
The Cancer Treatment Focus
Actuate's focus revolves around developing therapies that target critical molecular pathways involved in cancer progression. One of their lead investigational drugs, elraglusib, is a novel glycogen synthase kinase-3 beta (GSK-3?) inhibitor. This drug works by inhibiting tumor growth and combating the resistance many patients face against conventional therapies such as chemotherapy.
About Actuate Therapeutics, Inc.
Actuate Therapeutics is committed to addressing significant challenges faced by cancer patients. Their approach not only targets tumor growth pathways but also enhances anti-tumor immunity by modulating various immune responses. The multifunctional characteristics of elraglusib highlight the company’s innovative strategies in combating cancer more effectively than traditional treatments.
Investor Relations and Contact Information
For investors seeking additional information, Actuate Therapeutics has appointed Mike Moyer as the Managing Director for investor relations at LifeSci Advisors. Interested parties can reach out to him via email for inquiries related to this offering or other investment opportunities.
Frequently Asked Questions
What is the significance of Actuate's recent public offering?
The offering aims to raise $15 million, helping to fund Actuate's oncology research and development efforts.
Who is managing the public offering for Actuate?
Lucid Capital Markets is functioning as the sole book-running manager for the offering.
What is Actuate Therapeutics’ main focus?
The company is focused on developing treatments for high-impact, hard-to-treat cancers leveraging GSK-3? inhibitors.
How will the proceeds from the offering be used?
Proceeds will be allocated for working capital and general corporate purposes to advance their drug development initiatives.
Where can I find more information about Actuate?
Additional details can be found on Actuate’s official website, showcasing their therapeutic pipeline and research progress.
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