Sol-Gel Technologies Ltd. announced the pricing of an oversubscribed underwritten offering of 459,112 ordinary shares at $72.00 per share, expecting gross proceeds of approximately $33.1 million before underwriting discounts and expenses. The net proceeds will fund continued development of SGT-610, including pre-commercialization activities, and working capital and general corporate purposes.
Key takeaways
459,112 ordinary shares offered at $72.00 per share
Gross proceeds of approximately $33.1 million
Offering expected to close on or about March 25, 2026
Underwriters: TD Cowen and LifeSci Capital as joint book-running managers
Investors include Great Point Partners, LLC, Trails Edge Capital Partners, Surveyor Capital, Affinity Asset Advisors, Squadron Capital Management, Stonepine Capital Management, AuGC BioFund
Proceeds for SGT-610 development and general corporate purposes