Praxis Precision Medicines announces $63.3M public offering of common stock and pre-funded warrants at $0.95/share

Praxis Precision Medicines, Inc.

Offering includes 55.15M shares of common stock and pre-funded warrants to purchase 7.05M shares at $0.95/$0.9499 per share.
Underwriters fully exercised option to purchase additional 9.3M shares; net proceeds expected ~$63.3M.
Proceeds to advance ulixacaltamide Phase 3 for essential tremor and continue PRAX-562, PRAX-222, PRAX-628 epilepsy trials.
Company expects combined cash and proceeds to fund operations into Q1 2025.
Closing expected June 21, 2023 subject to customary conditions; pre-funded warrants not listed on Nasdaq.

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