Dianthus Therapeutics Inc DNTH shares were trading higher by 37.2% to $16.40 at the close of Monday’s session after the company announced a $230 million private placement.

What Happened?

Dianthus Therapeutics has entered into a securities purchase agreement for a private investment in public equity (PIPE) financing, anticipating gross proceeds of approximately $230 million. The financing involves both new and existing investors, including prominent firms.

Dianthus will sell 14,500,500 shares of common stock at $12.00 per share and pre-funded warrants to certain investors. The PIPE financing is set to close around January 24, and the funds will be used for research and development, as well as general corporate purposes.

Jefferies, Evercore ISI, Stifel, Guggenheim Securities and Raymond James are acting as placement agents for the financing.

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According to data from Benzinga Pro, DNTH has a 52-week high of $16.83 and a 52-week low of $6.58.