Xencor Prices Public Offering Of 6.64 Mln Shares At $18/shr

(RTTNews) - Xencor, Inc. (XNCR), a clinical-stage biopharmaceutical company, Wednesday priced public offering of 6.64 million shares at $18 per share.

The company also priced pre-funded warrants to purchase up to 3.09 million common shares at $17.99 per pre-funded warrant. The pre-funded warrants will be immediately exercisable with an exercise price of $0.01 per share.

Xencor intends to use the net proceeds from the offering of about $175 million for general corporate purposes, including research and development, capital expenditures, working capital and general and administrative expenses.

Leerink Partners, Raymond James and RBC Capital Markets are acting as joint book-running managers for the offering, which is expected to close by September 12.