ProKidney Launches $125 Million Stock Offering; Shares Fall After-Hours-February 2024-www.financetom.com

ProKidney Launches $125 Million Stock Offering; Shares Fall After-Hours

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ProKidney Launches $125 Million Stock Offering; Shares Fall After-Hours

Jun 10, 2024 2:31 PM

05:04 PM EDT, 06/10/2024 (MT Newswires) -- ProKidney ( PROK ) said Monday it launched an underwritten public offering and a concurrent registered direct offering of up to $125 million of its class A shares.

The company expects to grant its underwriters a 30-day option to buy up to an additional 15% of the shares sold in the offering. Jefferies, JPMorgan and Guggenheim Securities are the joint book-running managers.

ProKidney ( PROK ) intends to use the net proceeds for clinical trials and other research and development activities, among others.

Shares of the company dropped about 9% in after-hours activity.

Price: 2.7500, Change: -0.27, Percent Change: -8.94

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