04:34 AM EDT, 09/12/2024 (MT Newswires) -- Viridian Therapeutics ( VRDN ) said late Wednesday it priced a public offering of about 10.7 million common shares and 20,000 series B non-voting convertible preferred shares at $18.75 and $1,250.06250 per share, respectively, for gross proceeds of about $225 million.

The preferred stock is convertible into about 1.3 million shares of common stock. The offering, which was upsized from $150 million, is expected to close on or about Friday.

Underwriters have been granted a 30-day option to buy an additional 1.8 million common shares.

The company said it plans to use the proceeds, together with cash and short-term investments, for its clinical development programs, as well as for working capital and general corporate purposes.

Price: 19.51, Change: -0.29, Percent Change: -1.46