04:22 PM EDT, 03/25/2025 (MT Newswires) -- Humacyte ( HUMA ) shares slumped nearly 24% in after-hours activity late Tuesday after disclosing plans for an upcoming public offering of its common stock, subject to market and other conditions.

The biotechnology company did not indicate how many shares it expects to offer or other terms, although it expects to provide underwriters with a 30-day option to buy up to 15% more shares as overallotments.

The company plans to use the net proceeds from the offering to fund the commercialization of Symvess in the vascular trauma indication, the development of product candidates in its pipeline, and for working capital and general corporate purposes.