Capricor Therapeutics Prices Public Offering Of 4.412 Million Shares At $17/shr; Stock Down

(RTTNews) - Capricor Therapeutics (NASDAQ: CAPR) Thursday priced its public offering of 4.412 million shares at $17 per share. The company's shares were down more than 12 percent in pre-market.

Capricor also granted the underwriters a 30-day option to purchase up to an additional 661,800 of its shares.

The company intends to use the proceeds from the offering to develop and manufacture its pipeline candidates, for working capital, and for general corporate purposes.

Piper Sandler & Co. and Oppenheimer & Co. Inc. are acting as the joint book-running managers for the offering, which is expected to close on October 18.

Capricor stock had closed at $20.51, down 5.05 percent on Wednesday. It has traded in the range of $2.68 - $23.40 in the last 1 year.