Nanobiotix (NBTX) said Thursday that it has priced its global follow-on share offering at $38.98 per American depositary share and 33.60 euros per ordinary share, raising gross proceeds of about $98.6 million.

The offering consists of 225,373 American depositary shares and 2 million ordinary shares. It also includes 345,099 pre-funded warrants, the company said.

Underwriters will be granted a 30-day option to purchase up to 15% additional American depositary shares, Nanobiotix said.

The company said it intends to use funds raised from the offering to advance its Nanoprimer and other platforms, support the development of JNJ-1900, and for general corporate purposes.

The offering is expected to close on May 26, Nanobiotix said.

Shares of the company were down over 9% in Thursday's trading.

Price: 39.78, Change: -3.38, Percent Change: -7.83