Viridian Therapeutics Announces Proposed Underwritten Public Offering of Common Stock and Preferred Stock
September 20 2021 - 4:01PM
Viridian Therapeutics, Inc. (NASDAQ: VRDN), a biopharmaceutical
company advancing new treatments for patients suffering from
serious diseases but underserved by today’s therapies, today
announced that it has commenced an underwritten public offering of
shares of its common stock and series B preferred stock (the
“Series B Preferred”). All of the securities to be sold in the
underwritten public offering are being offered by Viridian. In
addition, Viridian has granted the underwriters a 30-day option to
purchase additional shares of its common stock. Each share of
Series B Preferred 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.
Viridian intends to use the proceeds from the proposed
underwritten public offering of its shares of common stock and
Series B Preferred 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 are acting as joint
book-running 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 preliminary prospectus supplement
and accompanying base prospectus relating to and describing the
terms of the offering will be filed with the SEC. The securities
described above have not been qualified under any state blue sky
laws. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy these securities, nor shall
there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction. The
offering can be made only by means of a prospectus, copies of which
may be obtained at the SEC’s website at www.sec.gov, or by request
to Jefferies LLC (Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, 2nd Floor, New York, New York
10022; telephone: 877-821-7388; email:
Prospectus_Department@Jefferies.com), SVB Leerink LLC (Attention:
Syndicate Department, 53 State Street, 40th Floor, Boston, MA
02109; telephone: 800-808-7525, ext. 6105; email:
syndicate@svbleerink.com), or Evercore Group L.L.C. (Attention:
Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York,
New York 10055; telephone: 888-474-0200; email:
ecm.prospectus@evercore.com).
About Viridian Therapeutics, Inc.
Viridian Therapeutics is a biotechnology company advancing new
treatments for patients suffering from serious diseases but
underserved by today’s therapies. Viridian’s most advanced program,
VRDN-001, is a differentiated monoclonal antibody targeting
insulin-like growth factor-1 receptor (IGF-1R), a clinically and
commercially validated target for the treatment of thyroid eye
disease (TED), a debilitating auto-immune disease that causes
inflammation and fibrosis within the orbit of the eye which can
cause double vision, pain, and potential blindness. Patients with
severe disease often require multiple remedial surgeries to the
orbit, eye muscles and eyelids. Viridian is based in Waltham,
Massachusetts.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements may be identified by the use of words such
as, but not limited to, "anticipate," "believe," "continue,"
"could," "estimate," "expect," "intend," "may," "might," "plan,"
"potential," "predict," "project," "should," "target," "will," or
"would" or other similar terms or expressions that concern our
expectations, plans and intentions. Forward-looking statements
include, without limitation, statements regarding the proposed
underwritten public offering and the Company’s expectations with
respect to the use of the net proceeds from the proposed
underwritten public offering. Forward-looking statements are
neither historical facts nor assurances of future performance.
Instead, they are based on our current beliefs, expectations and
assumptions. New risks and uncertainties may emerge from time to
time, and it is not possible to predict all risks and
uncertainties. No representations or warranties (expressed or
implied) are made about the accuracy of any such forward-looking
statements. Such forward-looking statements are subject to a number
of material risks and uncertainties including but not limited to:
market conditions that may affect the timing, terms or conditions
of the proposed underwritten public offering; the Company’s
successful completion of the proposed underwritten public offering;
the satisfaction of customary closing conditions related to the
proposed underwritten public offering; and other risks and
uncertainties identified in our filings with the SEC, including
those risks set forth under the caption “Risk Factors” in our
Quarterly Report on Form 10-Q filed with the Securities and
Exchange Commission (SEC) on August 12, 2021 and other subsequent
disclosure documents filed with the SEC. Any forward-looking
statement speaks only as of the date on which it was made. Neither
we, nor our affiliates, advisors or representatives, undertake any
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise, except as required by law. These forward-looking
statements should not be relied upon as representing our views as
of any date subsequent to the date hereof.
Viridian Contacts:
Investors:Dan FerryLifeSci
Advisors617-430-7576IR@viridiantherapeutics.com
Media:Darby PearsonVerge Scientific
Communications703-587-0831PR@viridiantherapeutics.com
Source: Viridian Therapeutics, Inc.
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