Wave Life prices upsized $200 mln equity offering, shares edge higher

Wave Life Sciences

26/09/2024 12:55

** Shares of Wave Life Sciences  WVE.O  up 0.6% at $9.06
premarket after upsized follow-on priced
    ** Co late Weds announced $200 mln offering comprising ~23.1
mln shares and ~1.9 mln pre-funded warrants for $200 mln gross
proceeds
    ** Offering size boosted from $175 mln and priced at $8
    ** WVE shares on Weds closed up 10% at $9.01 adding to 53%
surge on Tues after co's drug to treat some patients with
Duchenne muscular dystrophy (DMD) was safe and well-tolerated,
according to interim data from mid-stage study
    ** Co has ~124.7 mln shares outstanding for ~$1.1 bln market
cap and ~104.3 mln shares of public float, per LSEG
    ** JP Morgan and Leerink Partners jt bookrunners for stock
offering, joined by Truist and Mizuho

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))