Burning Rock Biotech: Falls on $58 mln discounted secondary offering

Burning Rock Biotech

04/12/2020 15:35

** Diagnostic test maker's shares  BNR.O  down 2.9% at
$25.27
    ** Co says its public offering of 2.2 mln ADS, each
representing one Class A ordinary share, is priced at
$25.75/share  - a 1.1% discount to stock's last close
 urn:newsml:reuters.com:*:nGNX5Gp18y
    ** Offering, of $57.8 mln in size, is by certain selling
shareholders; co will not receive any proceeds from the sale 
    ** Co says underwriters have an option to purchase up to
336,450 additional ADS exercisable within 30 days from the date
of the final prospectus
    ** Morgan Stanley & Co. LLC, BofA Securities Inc, and Cowen
and Co are joint bookrunners for the offering
    ** BNR shares are down 5.4% so far this year

 (Reporting by Lasya Priya M in Bengaluru)
 ((LasyaPriya.M@thomsonreuters.com;))