Editas Medicine Announces Closing of Offering of Common Stock and Full Exercise by Underwriter of Option to Purchase Additional Shares
On June 26, 2020, Editas Medicine (Nasdaq: EDIT) announced the completion of its underwritten public offering, selling 6,900,000 shares of common stock at a price of $31.25 per share.
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Rhea-AI Summary
On June 26, 2020, Editas Medicine (Nasdaq: EDIT) announced the completion of its underwritten public offering, selling 6,900,000 shares of common stock at a price of $31.25 per share. The offering generated approximately $215.6 million in gross proceeds, which includes 900,000 shares sold due to underwriter options. The registration statement related to the offering has been filed and is effective with the SEC. Morgan Stanley acted as the sole book-running manager for this offering.
Positive
- The offering raised approximately $215.6 million in gross proceeds.
- Funds from the offering could finance ongoing development and growth initiatives.
Negative
- The issuance of new shares may lead to shareholder dilution.
Details
News Market Reaction – EDIT
The recorded move for EDIT in the trading session of this news was +1.45%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
CAMBRIDGE, Mass., June 26, 2020 (GLOBE NEWSWIRE) -- Editas Medicine,!["image]("http://cnoackfiqudf.portal.bitglass.com/cb/QloeMIYH10mtB93SfsdtWUjLCf_CtEh--ML1Kvgn5c5vU-lAC_mZh9_KlAZTBSHBRK7pXEZbSQ9T0KDVHoWq6qzv-VhIqDPO2_E=/image.png")
Inc. (Nasdaq: EDIT), a leading genome editing company, today announced the closing of its previously announced underwritten offering of 6,900,000 shares of its common stock at a public offering price of share, before deducting underwriter discounts and commissions and estimated offering expenses, which includes 900,000 shares issued upon exercise in full by the underwriter of its option to purchase additional shares. Gross proceeds from the offering were approximately of the shares in the offering were sold by Editas Medicine.
Morgan Stanley acted as sole book-running manager for the offering.
A registration statement on Form S-3 (including a preliminary prospectus describing the terms of the offering) relating to the shares of common stock offered in the public offering has been filed with the Securities and Exchange Commission (SEC) and has become effective. The offering was made only by means of a prospectus. A final prospectus relating to the offering has been filed with the SEC and is available at www.sec.gov. Copies of the final prospectus may be obtained by contacting Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Editas Medicine
As a leading genome editing company, Editas Medicine is focused on translating the power and potential of the CRISPR/Cas9 and CRISPR/Cas12a (also known as Cpf1) genome editing systems into a robust pipeline of treatments for people living with serious diseases around the world. Editas Medicine aims to discover, develop, manufacture, and commercialize transformative, durable, precision genomic medicines for a broad class of diseases.
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