PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Fri, March 31, 3:17 AM
| This Slide: #85 of 609 |
Slide #85. Viridian Therapeutics, Inc. — Preferred Stock Offering
Company:
Viridian Therapeutics, Inc. (NASDAQ:VRDN)
Date announced:
8/15/2022
Shares Offered:
28,084
Date of Pricing:
8/17/2022
Price Per Share:
$1,566.75
Preferred Stock Offering Details:
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 commenced an underwritten public offering of $175 million of shares of its common stock and series B preferred stock. All of the securities to be sold in the underwritten public offering are being offered by Viridian. In addition, Viridian intends to grant the underwriters a 30-day option to purchase up to an additional $26.25 million of shares of its common stock. 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. -updated 8/17- Viridian Therapeutics, Inc. (NASDAQ: VRDN), a biotechnology company advancing new treatments for patients suffering from serious diseases underserved by current therapies, today announced the pricing of an upsized underwritten public offering with gross proceeds of approximately $270 million. Viridian is selling a total of 9,627,640 shares of common stock at a public offering price of $23.50 per share and 28,084 shares of series B preferred stock at a public offering price of $1,566.745 per share, which are convertible into approximately 1,872,360 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 1,725,000 shares of common stock at the public offering price, less underwriting discounts and commissions.
Viridian Therapeutics is a biotechnology company. Co. has built relevant capabilities in monoclonal antibody discovery and engineering, biologics manufacturing, and nonclinical and clinical development for thyroid eye disease (TED) and other undisclosed target indications. Co. is developing two product candidates, VRDN-001 and VRDN-002, to treat patients who suffer from TED. Co.'s key program, VRDN-001, is a humanized monoclonal antibody targeting insulin-like growth factor 1 receptor (IGF-1R) for the treatment for TED. VRDN-002, a distinct IGF-1R antibody is designed to support administration as a convenient, low volume, subcutaneous injection to treat patients who suffer from TED.
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Avg. Broker Rec.
 
|
Strong Buy (3.91 out of 4) 75th percentile
(ranked higher than approx. 75% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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