10:32 AM EDT, 09/11/2024 (MT Newswires) -- Liquidia ( LQDA ) said Wednesday that it expects to raise about $67.5 million from an underwritten public offering and a concurrent private placement of its common shares.

The company priced the public offering of about 6.5 million of its common shares at $8.90 apiece and said it signed a stock purchase agreement with funds managed by Caligan Partners for the private placement of about 1.1 million common shares at the same price.

Both the public offering and private placement are expected to close on Thursday, the company said.

Liquidia ( LQDA ) also said it signed a fifth amendment to its revenue interest financing agreement with HealthCare Royalty or HCRx for an additional $32.5 million in funding, subject to certain closing conditions. This amendment completes the $100 million investment contemplated under the January 2023 financing agreement with HCRx, the company added.

Proceeds from the share offerings and the HCRx investment are estimated to total about $100 million. Liquidia ( LQDA ) said the funds will be used for the ongoing development of Yutrepia and general working capital.

Shares of Liquidia ( LQDA ) were up nearly 8% in recent trading.

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