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FINWIRES

Altimmune Prices $225 Million Public Offering; Shares Fall Pre-Bell

-- Altimmune (ALT) said Wednesday it priced its underwritten public offering, consisting of about 64.3 million common shares and accompanying warrants to buy an about 64.3 million common shares and pre-funded warrants to buy up to about 10.8 million common shares and accompanying warrants to buy about 10.8 million common shares.

The combined offering price of each common share and accompanying warrant is $3, while the combined offering price of each pre-funded warrant and accompanying common stock warrant is $2.999.

The offering is set to close around Friday.

Gross proceeds from the offering, set to close around Friday, are estimated to be about $225 million.

Altimmune said it plans to use the net proceeds to fund its upcoming phase 3 trial in metabolic dysfunction-associated steatohepatitis, as well as for working capital and general corporate purposes.

The company's shares were down over 13% during Thursday premarket activity.

Price: $3.00, Change: $-0.47, Percent Change: -13.45%

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