12:27 PM EDT, 06/14/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph)

Rezolute ( RZLT ) shares were down more than 22% in recent Friday trading after the company priced an underwritten public offering to raise about $60 million late Thursday.

The company said it is offering 11.25 million shares at $4 per share. To some investors in lieu of stock, pre-funded warrants to buy up to 3.75 million shares at $3.999 per pre-funded warrant are available.

Closing of the offering is expected to occur on or about June 17.

Price: 3.99, Change: -1.18, Percent Change: -22.77