FX.co ★ Praxis Precision Medicines Announces Pricing Of Underwritten Public Offering

Praxis Precision Medicines, Inc. (PRAX) has disclosed the unit pricing for its forthcoming underwritten public offering. The company aims to offer 3,318,585 common stock shares, each priced at $56.50. Instead of common stock shares, they will be providing pre-funded warrants to acquire up to a sum of 221,238 common stock shares. Each warrant will cost $56.4999, which is the common stock shares' public offering price minus the $0.0001 per share exercise price. Praxis is projected to earn roughly $200 million in gross proceeds from this offering.

Furthermore, Praxis is granting underwriters the option to buy up to an additional 530,973 common stock shares over the following 30 days. These will be available at the public offering price, minus any underwriting discounts and commissions. The public offering is anticipated to conclude on or around April 2, 2024.