IDEAYA Biosciences Prices Public Offering Of 5 Mln Shares Of Common Stock At $23.50/shr

(RTTNews) - IDEAYA Biosciences Inc. (IDYA) announced the pricing of an underwritten public offering of common stock and pre-funded warrants. The company is selling 5 million shares of common stock and pre-funded warrants to purchase 319,150 shares of common stock in the offering.

The shares of common stock are being sold at a public offering price of $23.50 per share, before underwriting discounts and commissions, and the pre-funded warrants are being sold at a public offering price of $23.4999 per pre-funded warrant. The exercise price of the pre-funded warrants is $0.0001 per share.

In addition, IDEAYA has granted the underwriters a 30-day option to purchase up to an additional 797,872 shares of its common stock at the public offering price per share, before underwriting discounts and commissions.

The aggregate gross proceeds to IDEAYA from the offering are expected to be about $125 million, before deducting underwriting discounts and commissions and other offering expenses, and excluding the exercise of any pre-funded warrants. The offering is expected to close on or about October 27, 2023.

IDYA closed Tuesday's regular market trading at $27.25 up $0.56 or 2.10%. But in the after-hours trade, the stock dropped $2.27 or 8.33%.