Nuvalent Prices Public Offering Of 5 Mln Shares At $100.00/shr

(RTTNews) - Nuvalent Inc. (NUVL) announced the pricing of an upsized underwritten public offering of 5 million shares of Class A common stock at a price to the public of $100.00 per share.

The company expects the gross proceeds from the offering, before deducting underwriting discounts, commissions and other offering expenses, to be about $500.0 million.

The offering is expected to close on September 18, 2024. In addition, the underwriters have a 30-day option to purchase up to an additional 750,000 shares of Class A common stock at the public offering price less underwriting discounts and commissions.

NUVL closed Monday's regular trading at $112.17 up $24.72 or 28.27%. But in the after-hours trading, the stock dropped $0.67 or 0.60%.