04:12 AM EST, 12/13/2024 (MT Newswires) -- Candel Therapeutics ( CADL ) said late Thursday it priced an underwritten public offering of 10 million shares at $6 per share and pre-funded warrants for about 3.3 million shares at $5.99 per warrant to raise about $80 million in gross proceeds.

Underwriters have been granted a 30-day option to purchase up to an additional 2 million shares.

Net proceeds from the offering, which is expected to close around Dec. 16, will be used to continue the development of the company's product candidates and for general corporate purposes.