FDMT - Why 4D Molecular Therapeutics (FDMT) Stock Is Diving | Benzinga

4D Molecular Therapeutics Inc (NASDAQ:FDMT) shares are trading lower by 11.7% to $28.33 Wednesday afternoon after the company announced an upsized underwritten public offering comprising 6,586,015 shares of common stock priced at $29.50 per share, along with pre-funded warrants to purchase 3,583,476 shares at a price of $29.4999 per warrant.

The offering includes a 30-day option for underwriters to purchase up to an additional 1,525,423 shares. The gross proceeds are estimated to be around $300 million before deducting underwriting discounts, commissions, and other expenses.

The offering, managed by Goldman Sachs & Co. LLC, BofA Securities, Jefferies and Barclays, is expected to close on February 9, subject to customary closing conditions.

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