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Discounted share sale weighs on stock
Dyne Therapeutics, Inc. (NASDAQ:DYN) shares fell 9% on Wednesday after the biotechnology company priced a public offering of common stock expected to raise approximately $375 million.
The offering was priced at $20.50 per share, representing a discount of about 14% to Tuesday’s closing price of $23.83, contributing to the decline in the stock.
Company increases size of capital raise
Dyne priced an upsized offering of 18.3 million shares of common stock, according to a statement released on Tuesday.
The transaction is expected to generate gross proceeds of approximately $375.15 million before underwriting discounts, commissions and other offering-related expenses.
All of the shares included in the offering are being issued and sold by the company.
The offering is scheduled to close on or around July 23, 2026, subject to the satisfaction of customary closing conditions.
Underwriters retain option for additional shares
As part of the transaction, Dyne granted the underwriting syndicate a 30-day option to purchase up to an additional 2.745 million shares at the public offering price, less underwriting discounts and commissions.
If exercised in full, the option would increase the total size of the financing.
Major investment banks lead the transaction
Morgan Stanley, Jefferies, Evercore ISI, LifeSci Capital and Raymond James are serving as joint book-running managers for the offering.
Jones is acting as lead manager.
Dyne Therapeutics stock price
