- The shares of Verve Therapeutics ( NASDAQ: VERV ) continue to trade lower in the pre-market Thursday with a 16% decline after the gene-editing company priced its previously announced underwritten public offering of common stock.
- Per the terms, Verve ( VERV ) intends to offer ~8.3M shares of common stock at $27 per share for total gross proceeds of $225M, up from the $200M the management announced on Wednesday.
- There is a 30-day option for underwriters to purchase up to an additional ~1.3M of the shares of the common stock at the public offering price less the underwriting discounts and commissions.
- The common stock issuance is expected to close on July 25, 2022, subject to certain conditions.
- In terms of current analyst ratings, Verve ( VERV ) commands a Buy recommendation on Wall Street with only two Hold ratings.
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Verve slumps 16% after pricing common stock offering