Viridian Therapeutics Announces Proposed Concurrent Public Offerings of Convertible Senior Notes Due 2032, Common Stock and Series B Non-Voting Convertible Preferred Stock

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[{"type":"text","content":"Viridian Therapeutics Announces Proposed Concurrent Public Offerings of Convertible Senior Notes Due 2032, Common Stock and Series B Non-Voting Convertible Preferred Stock\n\n\n\n\n\n\n Viridian Therapeutics, Inc. (Nasdaq: VRDN), a biotechnology company focused on discovering, developing and commercializing potential best-in-class medicines for autoimmune and rare diseases, today announced that it has commenced underwritten public offerings of $150.0 million aggregate principal amount of convertible senior notes due 2032 (the “Convertible Notes” and such offering, the “Convertible Notes Offering”) and $100.0 million of shares of its common stock and, in lieu of common stock to certain investors, shares of its Series B non-voting convertible preferred stock (the “Equity Offering”).\n \n\n In addition, Viridian intends to grant the underwriters of the Convertible Notes Offering a 30-day option to purchase up to an additional fifteen percent (15%) of Convertible Notes offered in the Convertible Notes Offering, solely to cover over-allotments. Viridian also intends to grant the underwriters of the Equity Offering a 30-day option to purchase up to an additional fifteen percent (15%) of shares of its common stock and shares of its common stock underlying Series B non-voting convertible preferred stock offered in the Equity Offering. Each share of Series B preferred stock will be convertible into 66.67 shares of common stock at the election of the holder, subject to beneficial ownership conversion limits applicable to the Series B preferred stock.\n \n\n Neither the closing of the proposed Convertible Notes Offering nor the closing of the proposed Equity Offering is contingent upon the closing of the other offering, so it is possible that the Convertible Notes Offering occurs and the Equity Offering does not occur, and vice versa, or neither occurs. The proposed offerings are subject to market and other conditions, and there can be no assurance as to whether or when the proposed offerings may be completed, or as to the actual size or terms of the offerings.\n \n\n The Convertible Notes will be general, unsecured, senior obligations of Viridian and interest will be payable semi-annually in arrears. The Convertible Notes will mature on May 15, 2032, unless earlier converted, redeemed or repurchas...

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