Dyne Therapeutics shares slide after pricing $375 million public offering (NASDAQ:DYN)

Discounted stock merchantability weighs connected banal

Dyne Therapeutics, Inc. (NASDAQ:DYN) shares fell 9% connected Wednesday aft the biotechnology institution priced a nationalist offering of communal banal expected to rise astir $375 million.

The offering was priced astatine $20.50 per share, representing a discount of astir 14% to Tuesday's closing terms of $23.83, contributing to the diminution successful the stock.

Company increases size of superior rise

Dyne priced an upsized offering of 18.3 cardinal shares of communal stock, according to a connection released connected Tuesday.

The transaction is expected to make gross proceeds of astir $375.15 cardinal earlier underwriting discounts, commissions and different offering-related expenses.

All of the shares included successful the offering are being issued and sold by the company.

The offering is scheduled to adjacent connected oregon astir July 23, 2026, taxable to the restitution of customary closing conditions.

Underwriters clasp enactment for further shares

As portion of the transaction, Dyne granted the underwriting syndicate a 30-day enactment to acquisition up to an further 2.745 cardinal shares astatine the nationalist offering price, little underwriting discounts and commissions.

If exercised successful full, the enactment would summation the full size of the financing.

Major concern banks pb the transaction

Morgan Stanley, Jefferies, Evercore ISI, LifeSci Capital and Raymond James are serving arsenic associated book-running managers for the offering.

Jones is acting arsenic pb manager.

Dyne Therapeutics banal terms