Melinta Therapeutics down 12% on pricing common stock offering

|About: Melinta Therapeutics (MLNT)|By:, SA News Editor

Melinta Therapeutics (NASDAQ:MLNT) prices its public offering of 22M shares of common stock at $5.00 per share. The size of the offering was upsized from $75M to $110M. Underwriters over-allotment is an additional 2.64M shares.

Closing date is May 29.

Shares are down 12% premarket.

Previously: Melinta Therapeutics down 10% on announcing public offering of common stock (May 22)

Update: On May 29, the company announced that it raised $123.2M in the offering including the full exercise of the underwriters' over-allotment.

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