Verastem (VSTM) shares were up over 5% in recent Friday trading after the company said it has agreed to sell certain securities through a private placement for gross proceeds of roughly $75 million.
The company said it has decided to sell common shares worth $24 million at $7 apiece and pre-funded warrants worth $51 million.
The offering will likely close around Monday, Verastem said.
Proceeds will be used for working capital and other general corporate purposes, among others, it added.
Price: 7.88, Change: +0.38, Percent Change: +5.04
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