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September 18, 2019Cart

Business

by Westchester County Business Journal
by WCBJ

ContraFect prices $10M public offering of common stock

ContraFect Corp., a Yonkers biotechnology company, announced the pricing of its underwritten public offering of 5 million shares of common stock at $2.00 per share.

Proceeds from the offering will be $10 million.

ContraFect also granted the underwriters a 30-day option to purchase up to an additional 750,000 shares.

The offering is expected to close on July 31, subject to customary closing conditions.

Piper Jaffray & Co. and William Blair & Co. LLC are acting as joint book-running managers for the offering, and Chardan is lead manager.

ContraFect focuses on the discovery and development of protein and antibody therapeutics for life-threatening, drug-resistant infectious diseases. ContraFect’s initial product candidates include agents to treat antibiotic-resistant infections such as MRSA and influenza. The company’s offices are at 28 Wells Ave.