Rezolute (RZLT) said Wednesday that it has priced an offering of 20.8 million shares at $3.25 per share and pre-funded warrants to purchase up to 6.9 million shares at $3.2490 per warrant.

Gross proceeds from the offering before are expected to be $90 million, the company said.

Rezolute said it has also granted underwriters a 30-day option to purchase up to 4.2 million.

The offering is expected to close on Thursday, the company said.

Rezolute said it plans to use net proceeds from the offering for research and development and general corporate expenses.