MoonLake Immunotherapeutics Announces Pricing of Upsized $200 Million Public Offering

MoonLake Immunotherapeutics (NASDAQ:
MLTX) has priced an underwritten public offering of 9,000,000 Class A ordinary shares at $20.00 per share and, for certain investors, pre-funded warrants to purchase up to 1,000,000 Class A ordinary shares at $19.9999 per warrant, generating expected gross proceeds of about $200 million before underwriting fees and other expenses.

The offering was upsized from an initially announced $150 million target, amplifying potential dilution impact on existing shareholders and contributing to a near-term slide in the MLTX share price.

MoonLake has granted the underwriters a 30‑day option to purchase up to an additional 1,500,000 Class A ordinary shares at the public offering price, minus underwriting discounts and commissions, and the deal is expected to close on or about June 25, 2026, subject to customary closing conditions.

Proceeds are intended to fund the research, development, pre‑commercialization, and potential commercialization of sonelokimab for inflammatory skin and joint diseases, as well as general corporate purposes.