Reported Earlier, Viridian Therapeutics Prices $225M Upsized Public Offering 10,666,600 Common Shares At $18.75/Share And Preferred Stock
Portfolio Pulse from Benzinga Newsdesk
Viridian Therapeutics has announced a $225 million upsized public offering, selling 10,666,600 common shares at $18.75 each and 20,000 Series B non-voting convertible preferred shares at $1,250.06250 each. The preferred shares can convert into 1,333,400 common shares. Underwriters have a 30-day option to purchase an additional 1,800,000 common shares.
September 12, 2024 | 6:53 am
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Viridian Therapeutics is conducting a $225M upsized public offering, which includes common and preferred shares. This could lead to short-term stock price fluctuations due to increased share supply.
The public offering increases the supply of shares, which can lead to a decrease in stock price due to dilution. The offering's size and the option for underwriters to purchase additional shares further contribute to potential downward pressure on the stock price.
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