Solskin Cytokinetics ( NASDAQ: CYTK ) late on Wednesday announced the pricing of an underwritten public offering of 9.8 mln shares of its common stock at a price to the public of $51.00 per share, for gross proceeds of about $500 million.
CYTK shares fell -14.99% premarket to $50.35 on Thursday.
The offering is expected to close on May 28. Additionally, Cytokinetics ( CYTK ) has granted the underwriters a 30-day option to purchase up to an additional 1,470,588 shares of its common stock at the public offering price, less underwriting discounts and commissions. All the shares of common stock in the offering will be sold by Cytokinetics.
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