A groundbreaking moment in the world of bio-tech as Editas Medicine, a distinguished genome editing company, announces the pricing for its common stock offering.
Editas Medicine Announces Common Stock Offering
Editas Medicine, Inc. (Nasdaq: EDIT), a trailblazing clinical-stage genome editing company, announced the pricing for its underwritten offering of 12,500,000 shares of common stock. The shares are to be sold at a public offering price of $10.00 per share, which, after accounting for underwriter discounts, commissions, and estimated offering expenses, projects gross proceeds to approximately $125 million.
The company has also granted the underwriters a 30-day option to purchase an additional 1,875,000 shares of common stock on the same terms and conditions.
Details of the Offering
The offering is expected to close on or about June 20, 2023, subject to standard closing conditions. All the shares in the offering will be sold directly by Editas Medicine.
Role of J.P. Morgan Securities, Cowen, and Evercore
Esteemed institutions, J.P. Morgan Securities LLC, Cowen and Company, LLC, and Evercore Group L.L.C., have stepped in to act as joint book-running managers for the offering. A final prospectus supplement detailing the offering will be filed with the SEC.
About Editas Medicine
As a clinical-stage genome editing company, Editas Medicine is devoted to harnessing the power and potential of the CRISPR/Cas12a and Cas9 genome editing systems.
They aim to translate these advanced technologies into a robust pipeline of treatments for people grappling with serious diseases worldwide. The goal is to discover, develop, manufacture, and commercialize transformative, durable, precision genomic medicines for a broad class of diseases.
The company holds the exclusive license of Broad Institute’s Cas12a patent estate and Broad Institute and Harvard University’s Cas9 patent estates for human medicines.
This significant announcement is a testament to the growing influence of genomic medicine and the role of companies like Editas in shaping the future of healthcare. Genome editing continues to pave the way for transformative treatments and cures.
Let us know your thoughts on this development. Do you think the common stock offering will propel Editas Medicine even further in their mission? Feel free to comment below with your thoughts and opinions.
