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Verastem Oncology (VSTM) proposes $35 M offering priced at $4.50 - SELL

May 16, 2018 9:46am

VSTM closed up +$0.09 to $4.53 and is down in the pre-market -$0.79 or -14.90%

... With 50.9 M shares outstanding and a float of 49.3 M shares

VSTM had increased its debt facility to $50 M from $25 M having ended Q1/18 with $64.2 M in cash to fund operation into 2019

An offering of $35 million of its shares of 7,777,778 shares; VSTM has granted the underwriter a 30-day option to purchase up to an additional $5.25 million or 1,666,666 shares of its shares of common stock.

Cantor Fitzgerald & Co. is acting as sole book-running manager for the offering.

Their cash position "hands" were forced - SELL

35 companies, 1 interpreter!

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