Cardiff Oncology (CRDF) Prices 6.5M Share Common Offering at $13.50/Sh

Cardiff Oncology, Inc. (NASDAQ: CRDF) today announced the pricing of its previously announced underwritten public offering of 6,500,000 shares of its common stock at a public offering price of $13.50 per share.

The gross proceeds to Cardiff Oncology, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $88 million. The offering is expected to close on or about October 2, 2020, subject to the satisfaction of customary closing conditions. Cardiff Oncology has granted the underwriters a 30-day option to purchase up to an additional 975,000 shares at the public offering price, less underwriting discounts and commissions.

Cardiff Oncology intends to use the net proceeds from this offering for clinical development of its product candidate, onvansertib, working capital and for other general corporate purposes.

Cowen and Piper Sandler & Co. are acting as joint book-running managers for the offering. H.C. Wainwright & Co. is acting as lead manager for the offering.

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