Hillstream BioPharma proposes stock and warrants offering, shares fall 20%
Hillstream BioPharma (NASDAQ:HILS) said Thursday it intends to offer shares of its common stock, and/or pre-funded warrants in an underwritten public offering.
All of the shares of common stock and/or pre-funded warrants are to be sold by HILS.
ThinkEquity is acting as sole book-running manager for the offering.
HILS will also grant the underwriter a 45-day option to purchase up to an additional 15% of common stock and/or pre-funded warrants to cover over-allotments, if any.
Net proceeds from the offering will be used for the advancement of HSB-1216, for the development of other product candidates in its pipeline, among others things.
Other pricing details and the number of shares or warrants being offered were not disclosed.
Shares -20.2% at 87 cents after hours.