Disc Medicine Upsizes Offering to $450M at $75 a Share, a Discount to Monday's Close
IRON sits 97% above its 52-week low of $40 on elevated volume (3.4× avg).
Summary
Disc priced a $450M common stock offering at $75.00 a share, up from the $350M deal launched October 19th, selling 6,000,000 shares, and the underwriters have been granted a 30-day option to purchase up to an additional 900,000 shares at the public offering price. The price is roughly 5% below the $78.65 close, a modest discount that suggests decent but not overwhelming demand. The raise follows the positive Phase 3 APOLLO data for bitopertin on October 19th, which is what made the equity sale possible. Dilution is meaningful but the company already held $717.7M in cash with runway into 2029, so this is opportunistic capital ahead of a potential launch rather than a cash crunch.
Updates
· SEC 424B5 — Disc Medicine's $450M offering of 6,000,000 shares at $75.00 nets about $423M before expenses, with underwriters' 30-day option for up to 900,000 more shares.
At the time of this announcement, IRON was trading at $78.65 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $3.1B. The 52-week trading range was $40.00 to $99.50. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.