Sonnet Biotherapeutics Closes $15 Million Underwritten Public Offering; Legal Counsel Provided to Underwriter, Chardan Capital Markets LLC, by Lucosky Brookman LLP
Sonnet Biotherapeutics, a leading biotechnology company, closed a $15 million underwritten public offering. The offering was underwritten by Chardan Capital Markets LLC. Lucosky Brookman LLP was proud to serve as legal counsel to Chardan Capital Markets LLC in this transaction.
Lucosky Brookman LLP congratulates its clients Chardan Capital Markets LLC in closing the offering of 13,888,888 shares of common stock and investor warrants to purchase up to an aggregate of 27,777,776 shares of common stock. Each share of common stock was sold together with one investor warrant to purchase two shares of common stock at a combined offering price of $1.08, for total gross proceeds of approximately $15.0 million.
This news represents a major step forward for Sonnet Biotherapeutics as the funds raised through this offering will be used to further the company's mission of developing innovative treatments for patients in need. The successful underwritten public offering showcases the confidence that investors have in the company and its ability to bring new and impactful treatments to market.