ROIV - Roivant Sciences stock dips on pricing stock offering

• Roivant Sciences ( NASDAQ: ROIV ) shares fell 13% Tuesday morning after the biopharmaceutical company priced a primary and secondary public offering of 30M common shares.
• The offering consists of 20M shares offered by Roivant and 10M shares offered by the selling shareholders at a price to the public of $5.00/share for total gross proceeds of $150M.
• Roivant ( ROIV ) will receive ~$100M of the proceeds, while the selling shareholders will receive ~$50M.
• In addition, the underwriter has been granted a 30-day option to purchase up to $22.5M additional common shares.
• The offering is expected to close on Nov. 10, 2022, subject to customary closing conditions.
• Roivant ( ROIV ) expects its cash position will be sufficient to fund its operating expenses and capital expenditure requirements into the second half of calendar year 2025.

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