CHICAGO, Dec. 20, 2019 (GLOBE NEWSWIRE) -- Monopar Therapeutics Inc. today announced that the underwriters of its previously announced initial public offering of common stock have exercised in full their option to purchase an additional 166,666 shares of common stock. The additional shares were sold at the public offering price of $8.00 per share, before underwriting discounts and commissions. The closing is expected to occur on December 23, 2019, subject to customary closing conditions, bringing the total number of shares sold by Monopar Therapeutics in the initial public offering to 1,277,778 and total gross proceeds to approximately $10.2 million. The total net proceeds, after deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $9.3 million from the initial public offering.
The shares began trading on the Nasdaq Capital Market on December 19, 2019 under the symbol “MNPR.”
JonesTrading Institutional Services LLC acted as Lead Bookrunning Manager and Brookline Capital Markets, a division of Arcadia Securities, LLC, acted as Co-Manager for the offering.
The offering of these securities was made only by means of a prospectus. Copies of the final prospectus may be obtained from JonesTrading Institutional Services LLC by calling (212) 907-5332, or by e-mailing Compliance@jonestrading.com.
A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these shares in any state in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any state.
About Monopar Therapeutics Inc.
Monopar Therapeutics is a clinical stage biopharmaceutical company focused on developing proprietary therapeutics designed to improve clinical outcomes for cancer patients. The company's pipeline consists of Validive® for the prevention of chemoradiotherapy-induced severe oral mucositis in oropharyngeal cancer patients; camsirubicin for advanced soft tissue sarcoma; and a late-stage preclinical antibody MNPR-101.
Kim R. Tsuchimoto
Chief Financial Officer