Business
Viridian Therapeutics Announces Pricing of Public Offering of Shares of Common Stock and Preferred Stock
WALTHAM, Mass., Sept. 21, 2021 (GLOBE NEWSWIRE) -- Viridian Therapeutics, Inc. (NASDAQ: VRDN), a biopharmaceutical company advancing new treatments for
About this update from Viridian Therapeutics, Inc.
[{"type":"text","content":"WALTHAM, Mass., Sept. 21, 2021 (GLOBE NEWSWIRE) -- Viridian Therapeutics, Inc. (NASDAQ: VRDN), a biopharmaceutical company advancing new treatments for patients suffering from serious diseases but underserved by today's therapies, today announced the pricing of an underwritten public offering with gross proceeds of approximately $85.0 million. Viridian is selling a total of 6,185,454 shares of common stock at a public offering price of $11.00 per share and 23,126 shares of series B preferred stock (the “Series B Preferred”) at a public offering price of $733.37 per share, which are convertible into approximately 1,541,810 shares of common stock, subject to beneficial ownership conversion limits. In addition, Viridian has granted the underwriters a 30-day option to purchase an additional 1,159,089 shares of common stock at the public offering price less underwriting discounts and commissions. All of the shares to be sold in the underwritten public offering are being offered by Viridian. The offering is expected to close on or about September 23, 2021, subject to customary closing conditions. Viridian intends to use the proceeds from the underwritten public offering of its shares to advance the development of its VRDN-001 and VRDN-002 programs and the preclinical development of its VRDN-004 and VRDN-005 programs, as well as for working capital and general corporate purposes. Jefferies, SVB Leerink and Evercore ISI are acting as joint book-running managers for the offering. A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) and became effective on April 14, 2020. A final prospectus supplement relating to and describing the terms of the offering will be 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 can be made only by means of a prospectus, copies of which may be obtained at the SEC’s website at www.sec.gov, or by request to Jefferies...