Tenaya Announces Pricing Of $50 Mln Underwritten Offering; Stock Up

(RTTNews) - Tenaya Therapeutics, Inc. (TNYA) Thursday said it priced an offering of 8.9 million common shares at $4.50 per share, which will raise around $50 million. Following the news, the company's stock surged 22%.

Additionally, certain investors will have the option to purchase pre-funded warrants instead of common stock. These warrants will allow investors to buy up to 2,222,271 shares of the company's common stock at $4.499 per warrant.

All the securities offered will be sold by Tenaya, with the closing of the offering expected around February 12, 2024.

TNYA is trading on the Nasdaq at $4.40, up 22.22% or $0.98 per share. It has traded between $1.66 and $8.09 in the past 52-week period.