Viridian Therapeutics Announces Closing of Public Offering of Shares of Common Stock and Preferred Stock and Exercise in Full of the Underwriters' Option to Purchase Additional Shares
September 23 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 the closing of an underwritten public offering of
7,344,543 shares of common stock, which includes the exercise in
full by the underwriters of their option to purchase up to
1,159,089 additional shares of common stock, at a public offering
price of $11.00 per share and 23,126 shares of series B preferred
stock (the “Series B Preferred”) at a public offering price of
$733.37 per share, which are convertible into approximately
1,541,810 shares of common stock, subject to beneficial ownership
conversion limits. The gross proceeds of the offering, before
deducting underwriting discounts and commissions and other offering
expenses payable by Viridian, were approximately $97.7 million.
All of the shares sold in the underwritten
public offering were offered by Viridian. Viridian intends to use
the proceeds from the underwritten public offering of its shares 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
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 final
prospectus supplement relating to and describing the terms of the
offering was filed with the SEC on September 22, 2021. 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 was 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.
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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