WALTHAM, Mass., September 23, 2021 (GLOBE NEWSWIRE) – Viridian Therapeutics, Inc. (VRDN), a biopharmaceutical company providing new treatments for patients with serious illnesses but underserved by today’s therapies, announced today the closing of a public offering of 7,344,543 common shares, which includes the full exercise by the underwriters of their option to purchase up to 1,159,089 additional common shares, at a public offering price of $ 11.00 per share and 23,126 Series B preferred shares (the “Preferred Series B”) at a public offering price of $ 733.37 per share, which are convertible into approximately 1,541,810 common shares, under reserve of beneficial ownership conversion limits. The gross proceeds of the offering, before deducting discounts and underwriting commissions and other offering fees payable by Viridian, were approximately $ 97.7 million.
All the shares sold under the subscribed public offer were offered by Viridian. Viridian intends to use the proceeds of its share tender offer 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 acted as co-book 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 offer has been filed with the SEC on September 22. 2021. The securities described above have not qualified under any state blue sky law. This press release does not constitute an offer to sell or the solicitation of an offer to buy such securities, and there will be no sale of such securities in any State or other jurisdiction in which such an offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of any such state or other jurisdiction. The offer has been made only by way of a prospectus, copies of which can be obtained on the SEC’s website at www.sec.gov, or upon request to Jefferies LLC (Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022; phone: 877 821-7388; email: [email protected]), SVB Leerink LLC (Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109; phone: 800-808-7525, ext. 6105; email: [email protected]) or Evercore Group LLC (Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055; phone: 888-474-0200; email: [email protected]).
About Viridian Therapeutics, Inc.
Viridian Therapeutics is a biotechnology company providing new treatments for patients with serious illnesses but underserved by current therapies. Viridian’s most advanced program, VRDN-001, is a differentiated monoclonal antibody targeting the insulin-like growth factor-1 receptor (IGF-1R), a clinically and commercially validated target for the treatment of thyroid eye disease (TED), a self-debilitating disease. immune disease that causes inflammation and fibrosis in the eye socket that can cause double vision, pain, and potential blindness. Patients with severe disease often require multiple corrective surgeries of the eye socket, eye muscles, and eyelids. Viridian is based in Waltham, Massachusetts.
Verge Scientific Communications
Source: Viridian Therapeutics, Inc.