Benzinga | Sep 23, 2021 06:09AM EDT

Synlogic Late Wednesday Priced 15M Share Public Offering of Common Stock @$3.00/Share

Synlogic (NASDAQ:SYBX) announced the pricing of its underwritten public offering of 15,000,000 shares of its common stock at a public offering price of $3.00 per share. The gross proceeds to Synlogic from the offering, before deducting the underwriting discounts and commissions and offering expenses payable by Synlogic, are expected to be $45.0 million. All shares of common stock to be sold in the offering are being sold by Synlogic. In addition, Synlogic has granted to the underwriter a 30-day option to purchase up to 2,250,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about September 27, 2021, subject to the satisfaction of customary closing conditions.

Jefferies and SVB Leerink are acting as joint book-running managers for the offering. Chardan is acting as lead manager for the offering and H.C. Wainwright & Co. is acting as co-manager for the offering.