Actuate Therapeutics Launches $15 Million Common Stock Offering
Actuate Therapeutics Sets Pricing for Public Offering
Actuate Therapeutics, Inc. (NASDAQ: ACTU), based in Chicago and Fort Worth, has officially announced the pricing for its anticipated public offering. This comes as the company focuses on developing innovative treatments for challenging cancers, particularly through the inhibition of glycogen synthase kinase-3 beta (GSK-3?). The offering of 2,142,858 shares will be priced at $7.00 each, aiming to generate approximately $15 million in gross proceeds.
Details of the Offering
The offering is structured with the capacity for the underwriters to purchase an additional 321,428 shares, should they choose to do so, over a 30-day period. This flexibility allows for adjustments depending on market response. The completion of this offering is expected shortly, subject to fulfilling customary closing conditions.
Role of Investment Partners
Lucid Capital Markets has stepped in as the sole book-running manager for this public offering, ensuring that it reaches the necessary investors. Additionally, Titan Partners Group, a division of American Capital Partners, is providing financial advisory services, reinforcing the company’s financial strategies.
Funding Goals for Actuate
The funds raised from this offering will be pivotal for Actuate Therapeutics. The aim is to utilize the net proceeds for essential working capital and various general corporate activities that will support ongoing research and development. This financing reflects Actuate’s commitment to advancing its mission to provide groundbreaking treatments for cancer patients.
About Actuate Therapeutics, Inc.
Specializing in high-impact, difficult-to-treat cancers, Actuate Therapeutics is at the forefront of biopharmaceutical innovations. Its flagship investigational drug, elraglusib, is designed to combat resistance to conventional treatments by targeting specific molecular pathways related to tumor growth and immune response regulation. This dual action has the potential to enhance anti-tumor immunity, distinguishing Actuate’s approach in the biopharmaceutical landscape.
Understanding the Regulatory Process
The shares in the current offering were made available through a shelf registration statement previously approved by the Securities and Exchange Commission (SEC). This regulatory framework allows Actuate to efficiently navigate the complexities of public offerings, ensuring compliance while maximizing access to the capital markets.
Company Vision and Future Prospects
Actuate Therapeutics is committed to transforming the treatment landscape for cancer patients through its innovative drug development pipeline. As it engages in this public offering, the company continues to solidify its vision of addressing some of the most pressing challenges in oncology.
Investor Relations and Transparency
For inquiries related to investments, Actuate has appointed Mike Moyer as the Managing Director at LifeSci Advisors, LLC. Being accessible and transparent, Actuate aims to instill confidence among its investors and stakeholders as they progress toward their financial and corporate goals.
Frequently Asked Questions
What is the purpose of Actuate’s public offering?
The public offering aims to raise funds for working capital and general corporate purposes to support the development of therapies for difficult-to-treat cancers.
How much money does Actuate plan to raise?
Actuate Therapeutics intends to raise approximately $15 million through this offering.
Who is managing the public offering?
Lucid Capital Markets is acting as the sole book-running manager for the public offering.
What is the pricing per share in this offering?
The shares are priced at $7.00 each in the public offering.
What innovative treatments is Actuate developing?
Actuate is focused on developing therapies that target GSK-3? to treat high-impact cancers, with its leading compound being elraglusib.
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