05:46 AM EDT, 05/03/2024 (MT Newswires) -- Soleno Therapeutics ( SLNO ) said late Thursday it priced an underwritten public offering of 3 million common shares at $46 per share for expected gross proceeds of $138 million.

The underwriters have been granted a 30-day option to purchase up to 450,000 additional shares.

Net proceeds will be used to fund research and development activities and for general corporate purposes, the company said.

Closing of the offering is expected to occur on or about May 7, subject to market conditions.

Price: 46.00, Change: -3.23, Percent Change: -6.56