Viridian Therapeutics Announces Proposed Underwritten Public Offering Of Common Stock And Preferred Stock; No Size Or Amount Disclosed
Portfolio Pulse from Benzinga Newsdesk
Viridian Therapeutics, Inc. has initiated an underwritten public offering of its common stock and Series B preferred stock, with no specified size or amount. The securities are solely offered by Viridian, which also plans to give underwriters a 30-day option to buy additional common stock. The Series B preferred stock is convertible into common stock, with conversion limits. Proceeds will fund clinical development, working capital, and general corporate purposes. Jefferies and Leerink Partners are the joint lead book-running managers for the offering.
January 17, 2024 | 9:01 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Viridian Therapeutics is conducting a public offering of common and Series B preferred stock. The offering could dilute current shareholders but also provide capital for the company's clinical development and other corporate activities.
Public offerings often lead to dilution of existing shares, which can negatively impact the stock price in the short term. However, the capital raised is intended for clinical development, which could have positive long-term effects.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100