The company is issuing 5,540,000 shares of common stock at $23.50 per share. The company is issuing 850,000 pre-funded warrants at $23.499 per warrant. Total gross proceeds are expected to be $150 million. Net proceeds are estimated at approximately $144.7 million after expenses. The capital will be used to advance R&D for MZE829 (AMKD) and MZE782 (PKU/CKD) and for general corporate purposes. The offering is expected to extend the company's cash runway into 2029.