Dyne Therapeutics priced 18.3 million shares at $20.50, a 14% discount to Tuesday’s close, weighing on its stock.
Dyne Therapeutics (NASDAQ:DYN) shares fell 9% Wednesday after pricing a $375 million public offering of common stock. The offering was set at $20.50 per share, a 14% discount to Tuesday’s closing price of $23.83, pressuring the stock.
The company upsized the offering to 18.3 million shares, expected to generate gross proceeds of $375.15 million before expenses. The transaction is set to close on or around July 23, 2026, pending customary conditions.
Underwriters were granted a 30-day option to purchase up to 2.745 million additional shares. Morgan Stanley, Jefferies, and Evercore ISI are among the book-running managers for the deal.