| Mentioned: | UBX |
UNITY Biotechnology, Inc. ("UNITY") (Nasdaq: UBX), a biotechnology company developing therapeutics to slow, halt, or reverse diseases of aging, today announced the pricing of an upsized underwritten public offering of 64,285,714 shares of its common stock and accompanying warrants to purchase up to 64,285,714 shares of common stock at a combined public offering price of $0.70 per share and accompanying warrant. The warrants have an exercise price of $0.85 per share, are exercisable immediately, and will expire five years following the date of issuance. The gross proceeds to UNITY from the offering are expected to be approximately $45.0 million, before underwriting discounts and commissions and offering costs. All of the securities are being offered by UNITY. The offering is expected to close on August 22, 2022, subject to customary closing conditions.
UNITY intends to use the net proceeds from the offering to fund the ongoing clinical development of UBX1325, including the BEHOLD and ENVISION studies, and other general corporate purposes, including working capital, operating expenses and capital expenditures.
SVB Securities, Cantor and Mizuho Securities are acting as joint book-running managers for the offering. Wedbush PacGrow is acting as lead manager for the offering.
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