Madrigal Pharmaceuticals Prices $600 Million Public Offering-March 2024-www.financetom.com

Madrigal Pharmaceuticals Prices $600 Million Public Offering

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Madrigal Pharmaceuticals Prices $600 Million Public Offering

Mar 19, 2024 1:04 AM

03:30 AM EDT, 03/19/2024 (MT Newswires) -- Madrigal Pharmaceuticals ( MDGL ) said late Monday it priced an underwritten public offering of 750,000 shares at $260 per share and prefunded warrants to purchase roughly 1.6 million shares at $259.99 per warrant.

The company has granted underwriters a 30-day option to buy up to an additional 346,153 shares. It expects to raise about $600 million in gross proceeds from the offering, which is anticipated to close on or about Thursday.

Madrigal plans to use the proceeds to fund the launch of Rezdiffra in the US and for general corporate purposes.

Price: 280.09, Change: -3.14, Percent Change: -1.11

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