Erasca has priced an upsized public offering of 31.43 million shares of its common stock at $17.50 per share, with expected gross proceeds of approximately $550 million. The offering was increased from an initially proposed target of $500 million. All shares are being sold by the company, and underwriters have a 30-day option to purchase up to an additional 4.71 million shares at the same price. The transaction is expected to close on July 15, 2026, subject to customary conditions. Erasca intends to use the net proceeds, together with existing cash and marketable securities, to fund clinical development of its pipeline candidates, program expansions, working capital, and general corporate purposes.
Erasca IncDilutive public offering of 31.43M shares at $17.50, increasing share count and potentially depressing stock price.