Benzinga | Jan 6, 2021 05:43AM EST

NGM Bio PricedUpsized 4.6M Share Public Offering of Common Stock @$27/Share

NGM Biopharmaceuticals, Inc. (NGM) (NASDAQ:NGM) announced Tuesday, the pricing of an underwritten public offering of 4,629,630 shares of its common stock at a price to the public of $27.00 per share. The aggregate gross proceeds from the offering are expected to be approximately $125.0 million, before deducting the underwriting discounts and commissions and estimated offering expenses payable by NGM. The offering is expected to close on or about January 8, 2021, subject to customary closing conditions. In connection with the offering, NGM has granted the underwriters a 30-day option to purchase up to an additional 694,444 shares of its common stock at the public offering price, less underwriting discounts and commissions.

Goldman Sachs & Co. LLC, Citigroup and Cowen are acting as joint book-running managers for the offering. Raymond James and B. Riley Securities are acting as lead managers for the offering.