Kymera Therapeutics Priced $275M Public Offering at $25.25/Share
Portfolio Pulse from Benzinga Newsdesk
Kymera Therapeutics, Inc. (NASDAQ:KYMR) has priced its public offering at $25.25 per share, aiming to raise $275 million. The offering includes 2,250,495 shares of common stock and pre-funded warrants for 8,640,594 shares. The pre-funded warrants are priced at $25.2499, slightly less than the common stock due to the exercise price. Kymera expects gross proceeds of approximately $275 million before expenses and has also granted underwriters a 30-day option to purchase up to an additional $41.25 million of shares. The offering is set to close on January 9, 2024. The funds will be used to advance Kymera's clinical programs, for working capital, and potentially for strategic acquisitions or investments.
January 05, 2024 | 11:04 am
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Kymera Therapeutics is raising $275 million through a public offering priced at $25.25 per share. The proceeds will support clinical programs and may be used for strategic acquisitions or investments.
The public offering is likely to have a positive short-term impact on KYMR's stock price as it demonstrates the company's ability to raise capital and invest in its pipeline. However, the dilutive effect of the new shares could offset some of the positive sentiment.
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