Coherus Secures Private Placement from Temasek
REDWOOD CITY, Calif., Aug. 21, 2017 -- Coherus BioSciences, Inc. (Nasdaq:CHRS) today announced plans to raise up to $150 million in a two tranche private placement, the first tranche of $75 million in aggregate gross proceeds to be completed and funded by August 31, 2017 with 6,556,116 shares of common stock to be issued at an offering price of $11.44 per share.
Temasek, an investment company headquartered in Singapore, plans to invest up to $150 million over two tranches. The second tranche is projected to be funded following receipt of the U.S. Food and Drug Administration’s marketing approval for the CHS-1701 pegfilgrastim biosimilar product candidate, subject to market pricing and certain closing conditions at that time, including each party’s final approval.
- Published: 21 August 2017
- Written by Editor