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PALO ALTO, Calif. – BridgeBio Pharma, Inc. (NASDAQ: NASDAQ:), a biopharmaceutical company specializing in genetic diseases and cancer, has priced an underwritten public offering of its common stock.
The offering includes 8,620,690 shares at a price of $29.00 per share, before discounts and commissions. The move is expected to generate gross proceeds of approximately $250 million, not including potential additional sales at the underwriters' option.
The underwriters have been granted a 30-day option to purchase up to an additional 1,293,103 shares of common stock on the same terms. The offering, announced Monday, is expected to close on or about Friday, subject to customary closing conditions.
BridgeBio has hired JPMorgan, Kantar and Mizuho as joint bookrunning managers, with Raymond James acting as lead manager on the transaction. The shares are being offered pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (SEC) on May 4, 2023.
A final prospectus supplement and an accompanying prospectus detailing the terms of the offering will be filed with the SEC. Potential investors can obtain these documents from the joint manager's office or by visiting the SEC's website.
This announcement comes as part of BridgeBio's continued efforts to advance its pipeline of development programs from early science to advanced clinical trials. Founded in 2015, BridgeBio aims to leverage genetic medicine to bring innovative treatments to patients with genetic diseases and cancer.
This press release contains forward-looking statements and is based on management's current expectations. However, we also emphasize that actual events or results may differ materially due to a number of risks and uncertainties.
The information contained in this article is based on BridgeBio Pharma, Inc.'s press release statement.
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