WVE - Ra Capital Management raises passive stake in Wave Life Sciences

Wave Life Sciences (NASDAQ:WVE) has disclosed a share purchase by 10% owner Ra Capital Management. Ra Capital Management bought over 9.48M shares of the company's ordinary shares at $2.15 in a transaction dated June 16, 2022. It now becomes the beneficial owner of 17,202,009 shares of the issuer's ordinary shares which constitute ~19.99% of the class outstanding. The fund also holds pre-funded warrants through which it has a right to acquire 7,093,656 ordinary shares. The pre-funded warrants contain a provision which precludes exercise of the warrants to the extent that, following exercise, the fund, together with its affiliates and other attribution parties, would own more that 19.99% of the ordinary shares outstanding. The additional securities were acquired for an aggregate of $35.63M. The purchases were for cash and were funded by the working capital of the fund. WVE shares up over 8% pre-market

For further details see:

Ra Capital Management raises passive stake in Wave Life Sciences