Business
Viridian Therapeutics Announces Exercise in Full and Closing of Underwriters’ Option to Purchase Additional Shares in Public Offering
WALTHAM, Mass., Aug. 25, 2022 (GLOBE NEWSWIRE) -- Viridian Therapeutics, Inc. (NASDAQ: VRDN), a biotechnology company advancing new treatments for patients
About this update from Viridian Therapeutics, Inc.
[{"type":"text","content":"WALTHAM, Mass., Aug. 25, 2022 (GLOBE NEWSWIRE) -- Viridian Therapeutics, Inc. (NASDAQ: VRDN), a biotechnology company advancing new treatments for patients suffering from serious diseases underserved by current therapies, today announced that it has issued an additional 1,725,000 shares of common stock at a public offering price of $23.50 per share, resulting in additional gross proceeds of approximately $40.5 million, pursuant to the exercise in full of the underwriters’ option to purchase additional shares of common stock in connection with the Company’s previously announced public offering of common stock and Series B Preferred Stock. After giving effect to the full exercise of the underwriters’ option to purchase additional shares of common stock, the total number of shares of common stock sold by Viridian in the underwritten public offering was 11,352,640 shares. In addition, approximately 1,872,360 shares of common stock are issuable upon conversion of the 28,084 shares of Series B Preferred Stock sold in the offering. The gross proceeds from the sale of shares of common stock and Series B Preferred Stock were approximately $311 million, before deducting underwriting discounts and commissions and other offering expenses payable by Viridian. Viridian intends to use the proceeds from the underwritten public offering to further its clinical development programs, as well as for working capital and general corporate purposes. Jefferies, SVB Securities and Evercore ISI acted as joint book-running managers for the offering. LifeSci Capital acted as lead manager for the offering. A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) and became effective on November 17, 2021. A final prospectus supplement relating to and describing the terms of the offering has been filed with the SEC. The securities described above have not been qualified under any state blue sky laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. The offering was made only by means of...