ProKidney Announces Pricing of its Upsized $130 Million Public Offering of Class A Ordinary Shares and Concurrent Registered Direct Offering
Summary
WINSTON-SALEM, N.C., June 11, 2024 (GLOBE NEWSWIRE) -- ProKidney Corp. (Nasdaq: PROK) (ProKidney or the Company), a leading late clinical-stage cellular therapeutics company focused on chronic kidney disease, today announced the pricing of an underwritten public offering and a concurrent registered direct offering of 53,719,009 shares of its Class A ordinary shares at a price of $2.42 per share, before applicable underwriting discounts and commissions. PJT Partners is also acting as a financial advisor to the Company in connection with the offerings.A shelf registration statement relating to the Class A ordinary shares was filed with the Securities and Exchange Commission and was declared effective on November 30, 2023 (File No. ProKidneys lead product candidate, rilparencel (also known as REACT\xae), is a first-of-its-kind, patented, proprietary autologous cellular therapy being evaluated to potentially preserve kidney function in diabetic patients at high risk of kidney failure. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. More information about the risks and uncertainties faced by ProKidney is contained in the section captioned Risk Factors in the preliminary prospectus supplement related to the public offering and the concurrent registered direct offering filed with the Securities and Exchange Commission.