Rubius Therapeutics Priced Upsized ~6.9M Share Public Offering of Common Stock @$29/Share
Rubius Therapeutics, Inc. (NASDAQ: RUBY) announces the pricing of an upsized underwritten public offering of 6,896,552 shares of its common stock at a public offering price of $29.00 per share.
· 03/17/2021 05:35
Rubius Therapeutics, Inc. (NASDAQ:RUBY) announces the pricing of an upsized underwritten public offering of 6,896,552 shares of its common stock at a public offering price of $29.00 per share. The gross proceeds to Rubius from the offering are expected to be approximately $200 million, before deducting the underwriting discounts and commissions and other offering expenses. Rubius has granted the underwriters a 30-day option to purchase up to an additional 1,034,482 shares of its common stock. All the shares in the offering are to be sold by Rubius. The offering is expected to close on or about March 19, 2021, subject to satisfaction of customary closing conditions. Rubius intends to use the net proceeds from the offering, together with its existing cash, cash equivalents and investments, to advance development of its ongoing and future clinical programs, to further develop its technology platform and to continue to advance its preclinical pipeline. Any remaining proceeds will be used for other ongoing research and development activities and general corporate purposes, such as working capital, operating expenses and capital expenditures, including those related to its in-house manufacturing facility. J.P. Morgan, Jefferies and Guggenheim Securities are acting as joint bookrunning managers for the offering.