Allogene Therapeutics Plans $175M Equity Offering With $26.25M Overallotment Option
Allogene Therapeutics plans to sell $175 million of common stock in an underwritten public offering with a 30-day overallotment option for an additional $26.25 million. Net proceeds will fund clinical trial, R&D, general corporate and capital expenditures.
1. Proposed Public Offering
Allogene Therapeutics intends to offer 175 million dollars of common stock in an underwritten public offering, subject to market conditions and customary closing requirements. The company has granted underwriters a 30-day option to purchase up to an additional 26.25 million dollars of shares.
2. Use of Proceeds
Net proceeds from the offering will support clinical trial expenses, research and development efforts, general corporate activities and capital expenditures, bolstering the company’s resources to advance its AlloCAR T pipeline.
3. Underwriting and Registration
Goldman Sachs & Co. LLC, Jefferies and TD Cowen are the joint book-running managers, with TPG Capital BD acting as co-manager. The offering is being conducted under a shelf registration declared effective on April 25, 2024.