Alpine Immune Sciences Announces Pricing Of $150 Mln Public Offering; Stock Down

(RTTNews) - Alpine Immune Sciences Inc. (ALPN) announced the pricing of its underwritten public offering of 8.80 million shares of its common stock and, in lieu of shares of common stock to certain investors, pre-funded warrants to purchase up to 3.20 million shares of its common stock.

ALPN closed Monday's regular trading at $14.13 down $1.94 or 12.07%. In the after-hours trading, the stock further dropped $0.59 or 4.18%.

The shares of common stock are being offered at a public offering price of $12.50 per share and the pre-funded warrants are being offered at a price of $12.499 per pre-funded warrant, which equals the public offering price per share of the common stock less the $0.001 exercise price per share of each pre-funded warrant.

The company expects gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, to be approximately $150.0 million.

In addition, Alpine has granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 1.80 million shares of common stock at the public offering price, less the underwriting discounts and commissions. All shares of common stock to be sold in the offering are being sold by Alpine.

The offering is expected to close on or about November 9, 2023.