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Viridian Therapeutics, Inc. (NASDAQ:VRDN), a biotechnology company focused on discovering and developing potential best-in-class medicines for serious and rare diseases, today announced that it has commenced an underwritten public offering of shares of its common stock and Series B preferred stock. All of the securities to be sold in the underwritten public offering are being offered by Viridian. In addition, Viridian intends to grant the underwriters a 30-day option to purchase additional shares of its common stock. Each share of Series B preferred stock will be convertible into 66.67 shares of common stock at the election of the holder, subject to beneficial ownership conversion limits applicable to the Series B preferred stock.
Viridian intends to use the proceeds from the proposed underwritten public offering of its shares of common stock and Series B preferred stock, together with its cash, cash equivalents and short-term investments, to further its clinical development programs, as well as for working capital and general corporate purposes.
Jefferies and Leerink Partners are acting as joint lead book-running managers for the proposed offering.
Posted In: VRDN
