Allena Pharmaceuticals, Inc. just came out with a new prospectus, available here. This is an SEC requirement for firms looking to issue certain types of securities. An excerpt of the prospectus is provided below:
We expect to receive net proceeds of approximately $25.4 million from this offering, after deducting placement agent fees and estimated offering expenses
payable by us, and excluding the proceeds, if any, from the exercise of the Warrants or the Pre-Funded Warrants issued in this offering. The proceeds that we may receive in connection with the exercise of the Pre-Funded Warrants and Warrants offered hereby would be an aggregat e of $39,416 and approximately $13.3 million, respectively. We cannot predict when or if the Pre-Funded
Warrants and Warrants will be exercised, and it is possible that the Pre-Funded Warrants and Warrants may never be exercised.
We currently intend to use the net proceeds from this offering for working capital and other general corporate purposes, including, but not limited to,
research and development costs, potential strategic acquisitions of complementary businesses, services or technologies, expansion of our technology infrastructure and capabilities, and capital expenditures.
The amounts and timing of our use of proceeds will vary depending on a number of factors, including the amount of cash generated or used by our operations. As
a result, our management will retain broad discretion over the allocation of the net proceeds from this offering, and investors will be relying on the judgment of our management regarding the application of the net proceeds from this offering. We
therefore cannot estimate with certainty the portion of the net proceeds to be used for each of the purposes described above. We may also find it necessary or advisable to use the net proceeds for other purposes. Pending the uses described
above, we plan to invest the net proceeds from this offering in short-term, investment-grade, interest-bearing obligations, certificates of deposit or obligations of the United States.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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Other recent filings from the company include the following: