Denali Therapeutics Inc. (NASDAQ: DNLI) announced the pricing of its underwritten public offering of 7,826,087 shares of its common stock at a price to the public of $23.00 per share. All of the shares are to be sold by Denali Therapeutics. In addition, Denali Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 1,173,913 shares of its common stock. Before deducting the underwriting discounts and commissions and estimated offering expenses, Denali Therapeutics expects to receive total gross proceeds of approximately $180 million, assuming no exercise of the underwriters' option to purchase additional shares. The offering is expected to close on or about January 31, 2020, subject to satisfaction of customary closing conditions.
Goldman Sachs & Co. LLC, J.P. Morgan and Jefferies are acting as joint book-running managers and Nomura Securities International, Inc., H.C. Wainwright & Co. and Janney Montgomery Scott are acting as co-managers for the offering.