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Evelo Biosciences Prices 12M Share Public Offering of Common Stock @$3.75/Share

Evelo Biosciences,Inc. (NASDAQ: EVLO) announced the pricing of an underwritten public offering of 12,000,000 shares of its common stock, at a public offering price of $3.75 per share, before underwriting discounts and commissions.

Benzinga · -
Evelo Biosciences,Inc. (NASDAQ: EVLO) announced the pricing of an underwritten public offering of 12,000,000 shares of its common stock, at a public offering price of $3.75 per share, before underwriting discounts and commissions. Evelo also granted the underwriters a 30-day option, solely to cover over-allotments, if any, to purchase up to an additional 1,800,000 shares of its common stock. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $45,000,000 million, excluding any exercise of the underwriters' option to purchase additional shares. All of the shares in the offering are to be sold by Evelo. Morgan Stanley, Cowen and BMO Capital Markets are acting as joint book-running managers for the offering. The offering is expected to close on or about June 29, 2020, subject to customary closing conditions.