Dyne Therapeutics Prices Public Offering Of 17.15 Mln Shares At $17.50/shr; Stock Surges

(RTTNews) - Dyne Therapeutics Inc. (DYN) said that it priced an underwritten public offering of about 17.15 million shares of its common stock at a public offering price of $17.50 per share.

The company expects gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses payable by the company, to be about $300.1 million. The offering is expected to close on or about January 9, 2024.

In addition, Dyne has granted the underwriters a 30-day option to purchase up to an additional 2.57 million shares of its common stock at the public offering price, less the underwriting discounts and commissions.

DYN closed Thursday's regular trading at $19.39 up $4.62 or 31.28%.