Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sun, December 5, 5:16 AM
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Slide #15. Viridian Therapeutics, Inc. — Preferred Stock Offering
Viridian Therapeutics, Inc. (NASDAQ:VRDN)
Date of Pricing:
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Preferred Stock Offering Details:
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 that it has commenced an underwritten public offering of shares of its common stock and series B preferred stock (the "Series B Preferred"). All of the securities to be sold in the underwritten public offering are being offered by Viridian. In addition, Viridian has granted the underwriters a 30-day option to purchase additional shares of its common stock. Each share of Series B Preferred 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. -updated 9/21- 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.
Viridian Therapeutics is a biotechnology company. Co. is developing multiple product candidates to treat patients who suffer from thyroid eye disease (TED), an auto-immune disease that causes inflammation and fibrosis of the orbit and tissues surrounding the eye which can lead to proptosis, or bulging of the eyes, redness and swelling, double vision, pain, and potential blindness. Co.'s primary program, VRDN-001, is a humanized monoclonal anti-insulin-like growth factor-1R (anti-IGF-1R) antibody that Co. has licensed from ImmunoGen, Inc. Co. is also developing VRDN-002, an IGF-1R monoclonal antibody, for TED.
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Strong Buy (4.00 out of 4)
(ranked higher than approx. 74% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com