Viridian Therapeutics, Inc. (NASDAQ: VRDN), a biotech firm specializing in developing treatments for rare and serious diseases, has announced the pricing of its public offering. The company will sell 10,666,600 shares of common stock at $18.75 each and 20,000 shares of Series B non-voting convertible preferred stock at $1,250.06250 each, which are convertible into 1,333,400 common shares, subject to ownership limits. Viridian has also granted underwriters a 30-day option to purchase an additional 1,800,000 common shares at the offering price.
The offering, expected to close around September 13, 2024, is anticipated to generate gross proceeds of approximately $225 million, before deducting underwriting fees and other expenses.
The funds from the offering will support Viridian’s clinical development programs, working capital, and general corporate needs. Jefferies, Goldman Sachs & Co. LLC, Stifel, and RBC Capital Markets are the joint book-running managers, with Wedbush PacGrow as co-manager.
A registration statement for these securities was filed with the SEC and became effective on September 9, 2022. The offering is detailed in a final prospectus supplement and base prospectus to be filed with the SEC. This release does not constitute an offer to sell or a solicitation to buy these securities in jurisdictions where it would be illegal.
About Viridian Therapeutics, Inc.
Viridian focuses on developing advanced therapies for serious and rare diseases. The company is progressing clinical trials for treatments of thyroid eye disease (TED) and is exploring novel neonatal Fc receptor (FcRn) inhibitors for autoimmune diseases.
