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ARTICLE | Financial News

Spero raises $75M follow-on

July 20, 2018 5:56 PM UTC

Spero Therapeutics Inc. (NASDAQ:SPRO) raised $75 million on July 12 through the sale of 3.8 million shares at $12.50 and 2,220 shares of non-voting Series A convertible preferred stock at $12,500. Each Series A stock is convertible into 1,000 shares. Underwriters are Cowen, Stifel, Cantor Fitzgerald, Oppenheimer and H.C. Wainwright. The price is a 28% discount to its close of $17.39 on July 9, when it proposed after hours to sell 4.5 million shares. Spero sank 20% on July 10; it was off $1.15 to $12.14 on July 13. ...

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Spero Therapeutics Inc.