ProQR Therapeutics N.V. announced the pricing of its underwritten public offering of 18,000,000 ordinary shares at $3.50 per share, generating gross proceeds of $63.0 million. Concurrently, the company entered into a private placement agreement with Eli Lilly and Company.
Eli Lilly agreed to purchase 3,523,538 ordinary shares at the same price of $3.50 per share, resulting in approximately $12.3 million in gross proceeds. This participation allows Eli Lilly to maintain its current pro rata beneficial ownership of 16.4% in ProQR.
The total gross proceeds from both the public offering and the concurrent private placement amount to approximately $75.3 million. ProQR intends to use these net proceeds primarily to fund research and development and clinical development for its product candidates, with the remainder allocated for working capital and general corporate purposes.
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