secwatch.observer — SEC 8-K summary
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Issuer:     Arcutis Biotherapeutics, Inc. (ARQT)
CIK:        0001787306
Form:       8-K
Filed at:   2023-10-23T23:59:59+00:00
Accession:  0001628280-23-034917
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Arcutis Biotherapeutics prices public offering of 32.5M shares and pre-funded warrants for ~$93.5M net
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- Offering: 32.5M common shares at $2.50 each plus pre-funded warrants for 7.5M shares at $2.4999 each.
- Net proceeds expected ~$93.5M after discounts and expenses; closing expected October 24, 2023.
- Underwriters granted 30-day option to purchase up to 6M additional common shares.
- Pre-funded warrants have $0.0001 exercise price and include 9.99% beneficial ownership limitation (adjustable to 19.99%).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1787306/000162828023034917/0001628280-23-034917-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1787306/000162828023034917/arqt-20231019.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-034917

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer