Nektar Therapeutics Announces $30 Mln Private Placement Financing With TCGX; Stock Up In Premarket

(RTTNews) - Nektar Therapeutics (NKTR) announced on Monday that it has signed a deal with TCGX, an institutionally accredited investor, to sell securities in a private placement financing or PIPE for a total of $30 million, excluding expenses.

As a result of this development, the stock price has surged by more than 22% in pre-market trading.

In this PIPE agreement, Nektar is offering 25 million shares of its common stock through a pre-funded warrant at $1.20 per share, which is an 80% premium compared to Nektar's average price over the last 30 days.

The pre-funded warrant will have an exercise price of $0.0001 per share and will not have an expiration date.

The closing of the PIPE deal is anticipated to occur on or before March 6, 2024, pending the completion of standard closing requirements.

In pre-market activity on the NYSE, the shares are trading at $0.95, up 22.92%.