2023-05-08 08:58:46 ET
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- Legend Biotech ( NASDAQ: LEGN ) on Monday priced the registered direct offering of its American Depository Shares to raise about $350 million.
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- The company will sell 5,468,750 ADSs, each representing two ordinary shares, at $64.00 per ADS.
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- The proceeds, together with its existing cash and cash equivalents, will be used to fund its planned operating expenses and capital expenditures through the fourth quarter of 2025.
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- All ADSs to be sold in the offering will be sold by the company.
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- The offering is expected to close on or about May 10, 2023.
- Press Release .
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- Shares -3% at $65 premarket.
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For further details see:
Legend Biotech prices ADSs offering to raise $350M