PALO ALTO, Calif. - BridgeBio Pharma, Inc. (NASDAQ: NASDAQ:BBIO), a biopharmaceutical company specializing in genetic diseases and cancers, has priced an underwritten public offering of its common stock.
The offering includes 8,620,690 shares at $29.00 per share, before underwriting discounts and commissions. This move is expected to generate gross proceeds of approximately $250 million, not accounting for potential additional sales through an underwriters' option.
The underwriters have been granted a 30-day option to purchase up to an additional 1,293,103 shares of common stock at the same terms. The offering, which was announced on Monday, is slated to close on or about Friday, subject to customary closing conditions.
BridgeBio has engaged J.P. Morgan, Cantor, and Mizuho as joint book-running managers, with Raymond James serving as the lead manager for the transaction. The shares are being offered pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) on May 4, 2023.
The final prospectus supplement and accompanying prospectus detailing the offering terms will be filed with the SEC. Potential investors can obtain these documents from the offices of the joint book-runners or by accessing the SEC's website.
The announcement comes as part of BridgeBio's ongoing efforts to advance its pipeline of developmental programs ranging from early science to advanced clinical trials. Founded in 2015, BridgeBio aims to leverage genetic medicine to provide transformative treatments for patients with genetic diseases and cancers.
This press release contains forward-looking statements and is based on management's current expectations. However, it also highlights that actual events or results could differ materially due to a number of risks and uncertainties.
The information presented in this article is based on a press release statement from BridgeBio Pharma, Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.