Exicure Inc. (XCUR) Prices 10M Share Common Offering at $2.75/Sh

Exicure, Inc. (NASDAQ: XCUR) today announced the pricing of the previously announced underwritten public offering of 10,000,000 shares of its common stock at a price to the public of $2.75 per share. Exicure has also granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock to cover overallotments, if any, at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about December 23, 2019 subject to customary closing conditions.

Exicure expects to receive gross proceeds of $27.5 million from the sale of common stock in the offering, prior to deducting underwriting discounts and commissions and estimated offering expenses payable by it. Exicure intends to use the net proceeds from the offering to advance AST-008 through a Phase 1b/2 clinical trial; to initiate a second arm in its Phase 1b/2 clinical trial in cutaneous squamous cell carcinoma; to develop an SNA-based therapeutic candidate for the treatment of Friedreich’s ataxia, initiate IND-enabling studies and advance it into Phase 1 clinical trials; to develop a second SNA therapeutic candidate for a neurology condition and initiate IND-enabling studies; and for general corporate purposes.

Guggenheim Securities is acting as sole book-running manager for the offering. Chardan is acting as lead manager for the offering. H.C. Wainwright & Co. and Ladenburg Thalmann are acting as co-managers for the offering.

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