03:19 AM EDT, 04/02/2024 (MT Newswires) -- Gritstone bio (GRTS) said late Monday it priced an offering of about 8.3 million common shares and accompanying warrants to purchase up to about 8.3 million common shares at a combined price of $1.50 per share and accompanying warrant.

Gross proceeds from the offering, which is set to close around April 4, are estimated to be approximately $32.5 million.

The warrants are exercisable at a price of $1.65 per share.

The company may also issue pre-funded warrants in lieu of common shares to certain investors at a combined offering price of $1.4999 per pre-funded warrant and accompanying common warrant.

Shares of the company fell more than 32% in after-market hours on Monday.

Price: 1.58, Change: -0.77, Percent Change: -32.77