scPharmaceuticals (SCPH) Stock Fell Over 4%: Details

By Amit Chowdhry ● Nov 22, 2022
  • The stock price of scPharmaceuticals (SCPH) fell by over 4% pre-market today. This is why.

The stock price of scPharmaceuticals (SCPH) fell by over 4% pre-market today.

Why: scPharmaceuticals announced the pricing of an underwritten public offering of 6,620,000 shares of its common stock at a public offering price of $5.25 per share and, to an investor in lieu of common stock, a pre-funded warrant to purchase up to 2,905,000 shares of common stock at a purchase price of $5.249 per underlying share, for gross proceeds of approximately $50.0 million, before deducting underwriting discounts and commissions and other offering expenses and excluding the exercise of the pre-funded warrant.

All of the shares and the pre-funded warrant are being offered by scPharmaceuticals. And the offering is expected to close on November 25, 2022, subject to the satisfaction of customary closing conditions.

Managers: SVB Securities and Cowen are acting as joint book-running managers for the offering. H.C. Wainwright & Co. and Maxim Group LLC are acting as co-managers for the offering.