Benzinga | Jan 21, 2021 05:43AM EST

Dyne Therapeutics Priced 6M Share Public Offering of Common Stock @$28/Share

Dyne Therapeutics, Inc. (NASDAQ:DYN) announced the pricing of an underwritten public offering of 6,000,000 shares of its common stock at a public offering price of $28.00 per share. In addition, Dyne has granted the underwriters a 30-day option to purchase up to 900,000 additional shares of common stock at the public offering price, less the underwriting discount and commissions. All of the shares are being offered by Dyne.

The gross proceeds of the offering, before deducting the underwriting discount and commissions and other offering expenses payable by Dyne, are expected to be approximately $168 million, excluding any exercise of the underwriters' option to purchase additional shares. The offering is expected to close on Monday, January 25, 2021, subject to customary closing conditions.

J.P. Morgan, Jefferies, Piper Sandler and Stifel are acting as joint book-running managers for the offering.