Acrivon Therapeutics, Inc. (ACRV), a firm focused on precision oncology medicines, announced on Tuesday that it has inked a deal for private investment in public equity or PIPE with certain investors to sell 8,235,000 shares at $8.
Acrivon Therapeutics has entered into a securities purchase agreement to issue and sell 8.235 million shares of its common stock at a price of $8.50 per share, as well as pre-funded warrants to purchase up to 7.06 million shares through a private investment in public equity (PIPE) financing.
U.S. stocks traded lower toward the end of trading, with the S&P 500 falling around 0.4% on Tuesday. The Dow traded down 0.46% to 38,713.72 while the NASDAQ fell 0.24% to 16,215.32. The S&P 500 also fell, dropping, 0.39% to 5,182.36.