The Life Sciences IPOs + Capital Markets team advised the underwriters of Protara Therapeutics, Inc. (Nasdaq: TARA) two concurrent but separate public offerings of (i) 4,600,000 shares of its common stock and (ii) 4,148 shares of its non-voting Series 1 Convertible Preferred Stock. The public offering price of each share of common stock is $16.87 and the public offering price of each share of Series 1 preferred stock is $16,873.54. In addition, Protara has granted the underwriters a 30-day option to purchase additional shares of common stock of up to 15% of the aggregate number of shares offered in the common stock offering. Protara expects to receive combined gross proceeds of $147.6 million from the offerings, before deducting underwriting discounts and offering expenses.
Protara is a clinical-stage company developing transformative therapies for the treatment of cancer and rare diseases with significant unmet needs.For more details, read the press release and article in Seeking Alpha.