EMERYVILLE, Calif., Feb. 08, 2024 (GLOBE NEWSWIRE) -- Metagenomi, Inc. (NASDAQ:MGX) ("Metagenomi"), a precision genetic medicines company committed to developing curative therapeutics for patients using its proprietary, comprehensive metagenomics-derived gene editing toolbox, today announced the pricing of its initial public offering of 6,250,000 shares of its common stock at a price to the public of $15.00 per share. The gross proceeds to Metagenomi from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be $93,750,000. All of the shares are being offered by Metagenomi. In addition, Metagenomi has granted the underwriters a 30-day option to buy an additional 937,500 shares of its common stock at the initial public offering price, less underwriting discounts and commissions.
The shares are expected to begin trading on the Nasdaq Global Select Market on February 9, 2024 under the ticker symbol "MGX." The offering is expected to close on February 13, 2024 subject to the satisfaction of customary closing conditions.
J.P. Morgan, Jefferies, TD Cowen, Wells Fargo Securities and BMO Capital Markets are acting as joint book-running managers. Chardan is acting as lead manager for the offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on February 8, 2024. The offering is being made ...