ArQule Announces Pricing of $90 Million Public Offering of Common Stock

BURLINGTON, Mass.--(BUSINESS WIRE)--ArQule, Inc. (Nasdaq:ARQL) today announced the pricing of an underwritten public offering of 9,250,000 shares of its common stock at a price to the public of $9.75 per share. ArQule has granted the underwriters a 30-day option to purchase up to an additional 1,387,500 shares of its common stock. The offering is expected to close on or about June 27, 2019, subject to satisfaction of customary closing conditions. The gross proceeds to ArQule from the offering, excluding any exercise by the underwriters of their 30-day option to purchase additional shares, are expected to be approximately $90.2 million, before deducting underwriting discounts and commissions and other offering expenses payable by ArQule.