07:09 AM EDT, 09/11/2024 (MT Newswires) -- Xencor ( XNCR ) said Wednesday that it priced its underwritten public offering of about 6.6 million shares of its common stock at $18 per share and pre-funded warrants to buy up to about 3.1 million shares of common stock at $17.99 per pre-funded warrant for expected gross proceeds of about $175 million.

The pre-funded warrants will be immediately exercisable at a price of $0.01 per share, the company said.

The company also granted the underwriters a 30-day option to buy up to about 1.5 million additional shares of its common stock. The offering is expected to close on or about Thursday.

The company said it plans to use the net proceeds for general corporate purposes, which may include research and development, capital expenditures, working capital and general and administrative expenses.

Xencor's ( XNCR ) shares fell 2% in recent premarket activity on Wednesday.

Price: 18.73, Change: -0.40, Percent Change: -2.09