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Larimar Therapeutics Announces $70M Underwritten Offering

BALA CYNWYD, Pa., Sept. 14, 2022 (GLOBE NEWSWIRE) -- Larimar Therapeutics, Inc. ("Larimar" or the "Company") (NASDAQ:LRMR), a clinical-stage biotechnology company focused on developing treatments for

Benzinga · 09/14/2022 07:07

BALA CYNWYD, Pa., Sept. 14, 2022 (GLOBE NEWSWIRE) -- Larimar Therapeutics, Inc. ("Larimar" or the "Company") (NASDAQ:LRMR), a clinical-stage biotechnology company focused on developing treatments for complex rare diseases, today announced the pricing of an underwritten offering of 22,225,000 shares of common stock. The shares are being sold at an offering price of $3.15 per share, which is equal to the closing price on Nasdaq for Larimar's common stock on September 13, 2022. The gross proceeds to Larimar, before deducting the underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $70.0 million. The offering is expected to close on or about September 16, 2022, subject to customary closing conditions. Larimar has granted the underwriters a 30-day overallotment option to purchase up to 3,333,750 additional shares of common stock at the offering price, less underwriting discounts and commissions.