Humacyte stock falls on plans to sell up to $50M shares to Lincoln Park

 

• Humacyte (NASDAQ:HUMA) may sell up to $50M shares to Lincoln Park Capital Fund as part of a purchase agreement and registration rights agreement.
• Net proceeds from the sale, if any, will be used to fund the development of product candidates in its pipeline, the commercial launch of the company’s acellular tissue engineered vessel in the vascular trauma indication, if approved, and for working capital and general corporate purposes.
• Shares of the biotech firm fell as much as 7.68% in premarket trade on Wednesday.

https://www.msn.com/en-us/money/markets/humacyte-stock-falls-on-plans-to-sell-up-to-50m-shares-to-lincoln-park/ar-AA1rb7v0