Viridian Therapeutics Prices $150M Public Offering Of 7,142,858 Common Shares At $21/Share
Portfolio Pulse from Benzinga Newsdesk
Viridian Therapeutics has announced a public offering of 7,142,858 common shares at $21 per share, with an additional option for underwriters to purchase up to 1,071,428 shares. The offering is expected to close on January 22, 2024. The proceeds will be used for clinical development programs, working capital, and general corporate purposes.
January 18, 2024 | 7:14 am
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Viridian Therapeutics is raising capital through a public offering of over 7 million shares at $21 each, which may dilute current shareholders but also provides funding for its clinical programs and corporate needs.
The public offering of shares typically leads to dilution of existing shareholders' equity, which can result in a short-term negative impact on the stock price. However, the capital raised is intended for clinical development and corporate purposes, which could have long-term benefits.
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