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Zymeworks Raises $100M Via Equity Issued At 14% Discount

Zymeworks Inc (NYSE: ZYME) has priced its underwritten public offering of 9.16 million common shares, pre-funded warrants to purchase up to 3.34 million shares.

  • The shares are offered at .00 per common share and the pre-funded warrants at $7.9999 per pre-funded warrant.

  • The offer price represents a discount of almost 14% from the last close price of $9.32 on Wednesday.

  • See the offer prospectus here.

  • The gross proceeds to Zymeworks are expected to be approximately $100.0 million.

  • Underwriters have an option to purchase up to an additional 1.875 million shares.

  • The Company will use the proceeds to develop zanidatamab, adaptive Phase 1 trials of ZW49, and for general corporate purposes.

  • Related: Zymeworks To Cut Its Workforce By Almost 25%, Outlines 2022 & 2023 Priorities.

  • The offering is expected to close by January 31.

  • Price Action: ZYME shares are down 11.5% at $8.25 during the premarket session on the last check Thursday.

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