Benzinga | Jul 2, 2021 07:31AM EDT

Cerevel Therapeutics Raises $350M Via Equity Issued At $25/Share

* Cerevel Therapeutics Holdings Inc (NASDAQ:CERE) has priced its previously announced underwritten public offering of 14 million shares at $25.00 per share, representing a discount of 7% from the last close price of $26.85 on Thursday.

* The gross proceeds will be approximately $350 million.

* Underwriters have an option to purchase up to an additional 2.1 million shares.

* The offering will close by July 7.

* Price Action: CERE shares are down 1.23% at $26.52 in the premarket session on the last check Friday.