Unicycive Therapeutics Closes $10M Public Offering
Ticker: UNCY · Form: 8-K · Filed: Sep 25, 2024 · CIK: 1766140
| Field | Detail |
|---|---|
| Company | Unicycive Therapeutics, Inc. (UNCY) |
| Form Type | 8-K |
| Filed Date | Sep 25, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $35,000,000 |
| Sentiment | bullish |
Sentiment: bullish
Topics: financing, public-offering, biotech
TL;DR
UniCycive just closed a $10M stock offering at $10/share. Bullish for funding pipeline.
AI Summary
On September 24, 2024, Unicycive Therapeutics, Inc. announced the closing of its previously disclosed underwritten public offering. The company successfully raised approximately $10.0 million in gross proceeds before deducting underwriting discounts and commissions and other offering expenses. This offering involved the sale of 1,000,000 shares of common stock at a price of $10.00 per share.
Why It Matters
The successful completion of this $10 million offering provides Unicycive Therapeutics with additional capital, which is crucial for funding its ongoing research and development activities and advancing its pipeline.
Risk Assessment
Risk Level: medium — While the capital raise is positive, the company operates in the highly speculative biotechnology sector, and the success of its drug development is not guaranteed.
Key Numbers
- $10.0M — Gross Proceeds (Raised from public offering on September 24, 2024.)
- $10.00 — Price Per Share (Sold in the public offering.)
Key Players & Entities
- Unicycive Therapeutics, Inc. (company) — Registrant
- September 24, 2024 (date) — Date of earliest event reported
- $10.0 million (dollar_amount) — Gross proceeds from public offering
- 1,000,000 (number) — Number of shares sold
- $10.00 (dollar_amount) — Price per share
FAQ
What was the total amount raised in the public offering?
Unicycive Therapeutics, Inc. raised approximately $10.0 million in gross proceeds from the underwritten public offering.
When did the public offering close?
The public offering closed on September 24, 2024.
How many shares were sold in the offering?
1,000,000 shares of common stock were sold in the offering.
At what price were the shares sold?
The shares were sold at a price of $10.00 per share.
What is the company's principal executive office address?
The company's principal executive offices are located at 4300 El Camino Real, Suite 210, Los Altos, CA 94022.
Filing Stats: 472 words · 2 min read · ~2 pages · Grade level 14.7 · Accepted 2024-09-24 20:54:56
Key Financial Figures
- $35,000,000 — um market value of listed securities of $35,000,000 over the previous 30 consecutive busine
Filing Documents
- ea0215583-8k_unicycive.htm (8-K) — 33KB
- 0001213900-24-081531.txt ( ) — 204KB
- uncy-20240924.xsd (EX-101.SCH) — 3KB
- uncy-20240924_lab.xml (EX-101.LAB) — 33KB
- uncy-20240924_pre.xml (EX-101.PRE) — 22KB
- ea0215583-8k_unicycive_htm.xml (XML) — 4KB
01
Item 8.01 Other Events. As previously disclosed, on July 11, 2024, Unicycive Therapeutics, Inc. (the "Company") received a written notice (the "Notice") from the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it was not in compliance with Nasdaq Listing Rule 5550(b)(2) (the "Rule"), since it had failed to maintain a minimum market value of listed securities of $35,000,000 over the previous 30 consecutive business days. Nasdaq has determined that for the last 10 consecutive business days, from September 10 to September 23, 2024, the Company's market value of listed securities has been $35,000,000 or greater. On September 24, 2024, the Company received notice from Nasdaq that the Company has regained compliance with the minimum market value requirement for continued listing on The Nasdaq Capital Market. 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: September 25, 2024 UNICYCIVE THERAPEUTICS, INC. By: /s/ Shalabh Gupta Shalabh Gupta Chief Executive Officer 2