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Acrivon Therapeutics, Inc. (ACRV) has provided an update.
On April 8, 2024, Acrivon Therapeutics, Inc. secured a significant financial boost through a private placement deal with institutional and accredited investors, raising approximately $130 million. The agreement involves the sale of over 8 million shares and pre-funded warrants, with the latter providing options to purchase additional shares in the future. The company plans to channel these funds into advancing its drug pipeline and research, including the development of its AP3 platform and leveraging artificial intelligence. The deal, managed by Jefferies LLC as the sole placement agent, also includes registration rights for investors and a lock-up period restricting further stock issuance.
Find detailed analytics on ACRV stock on TipRanks’ Stock Analysis page.