Galecto Prices $275 Million Offering

MT Newswires Live

02/11

Galecto (GLTO) said late Tuesday it priced an offering of 14.5 million shares at $19 per share.

The pharmaceutical company said it also granted underwriters a 30-day option to purchase up to 2.2 million additional shares.

Gross proceeds are expected to total $275 million and the offering is expected to close Thursday, the company said.

Shares of the company were down 3.7% in Wednesday's premarket trading.

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