Atara Biotherapeutics to Raise $36 Million From Direct Offering; Shares Soar After-Hours

06:07 PM EDT, 09/03/2024 (MT Newswires) -- Atara Biotherapeutics (ATRA) said late Tuesday that it signed definitive agreements to sell 758,900 shares at $8.25 apiece in a registered direct offering. The stock closed at $7.60 in the previous day.

The company said it will also sell pre-funded warrants to purchase up to about 3.6 million shares at $8.2499 per share. The gross proceeds to Atara from the offering will probably be $36 million.

The investors include entities affiliated with Redmile Group, EcoR1 Capital, and Adiumentum Capital Management, the firm said. The offering will likely close on or about Sept. 5.

Shares of the company surged 21% in after-hours activity.

Price: 8.24, Change: +1.43, Percent Change: +21.00