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Buy (3.33 out of 4)
50th percentile
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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thursday, March 28, 2:57 PM
Slide #109. Spero Therapeutics, Inc. — Preferred Stock Offering
Company: |
Spero Therapeutics, Inc. (NASDAQ:SPRO) |
Date announced: |
9/9/2020 |
Shares Offered: |
8,000,000 |
Preferred Stock Offering Details: |
Spero Therapeutics, Inc. (Nasdaq: SPRO), a multi-asset clinical-stage biopharmaceutical company focused on identifying, developing and commercializing treatments in high unmet need areas involving multidrug-resistant (MDR) bacterial infections and rare diseases, today announced that it has commenced an underwritten public offering of 8,000,000 shares of common stock in the aggregate, consisting of an offering of shares of common stock (the "common stock offering") and shares of non-voting Series D Convertible Preferred Stock with each share of Series D Convertible Preferred Stock being convertible into 1,000 shares of common stock. All of the securities in the offering will be sold by Spero. In addition, Spero expects to grant the underwriters in the common stock offering a 30-day option to purchase up to an additional 15% of the shares of common stock at the public offering price, less the underwriting discounts and commissions. |
Spero Therapeutics is a biopharmaceutical company focused on identifying, developing, and commercializing treatments involving bacterial infections. Co.'s product candidate, SPR720, is an oral antimicrobial agent in development for the treatment of nontuberculous mycobacterial pulmonary disease. Co.'s partnership-directed programs consist of tebipenem pivoxil hydrobromide, which is designed to be oral carbapenem-class antibiotic for use to treat certain bacterial infections that cause complicated urinary tract infections; and SPR206, which is an IV-administered antibiotic being developed as an option to treat multi-drug resistant Gram-negative bacterial infections in the hospital setting.
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