Verve Therapeutics Prices Public Offering Of 12.50 Mln Shares At $10.00/shr

(RTTNews) - Verve Therapeutics Inc. (VERV) said that it has priced an underwritten public offering of 12.50 million shares of its common stock at a public offering price of $10.00 per share, for total gross proceeds of $125.0 million, before deducting underwriting discounts and commissions and other offering expenses payable by Verve.

In addition, Verve has granted the underwriters a 30-day option to purchase up to 1.88 million additional shares of its common stock at the public offering price, less the underwriting discounts and commissions.

Verve has agreed to sell, in a private placement, 2.30 million shares of its common stock to Eli Lilly and Company, at a price per share equal to the public offering price, for total gross proceeds of about $23.0 million.

The aggregate gross proceeds from the public offering and the concurrent private placement are expected to be approximately $148.0 million, before underwriting discounts and commissions and other offering expenses payable by Verve, and without giving effect to any exercise by the underwriters of their option to purchase additional shares.

The public offering and concurrent private placement are expected to close on December 1, 2023.