Dyne Therapeutics Prices Public Offering Of 10.50 Mln Shares At $31.00/shr

(RTTNews) - Dyne Therapeutics Inc. (DYN) announced the pricing of an underwritten public offering of 10.50 million shares of its common stock at a public offering price of $31.00 per share.

The company expects gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, to be $325.5 million.

The offering is expected to close on or about May 24, 2024. In addition, Dyne has granted the underwriters a 30-day option to purchase up to an additional 1.58 million shares of its common stock at the public offering price, less the underwriting discounts and commissions.

DYN closed Tuesday's regular trading at $32.63 down $2.75 or 7.77%. But in the after-hours trading, the stock gained $0.32 or 0.98%.