Silence Therapeutics Closes $201M Upsized Offering After Full Underwriter Option Exercise
SLN has more than doubled off its 52-week low of $4.19.
Summary
Silence Therapeutics closed its upsized public offering, selling 14.9 million ADSs at $13.50 each for gross proceeds of about $201.3 million. The underwriters fully exercised their option to buy an additional 1.94 million ADSs, pushing the total above the previously announced 13 million. This follows the company's blockbuster Phase 2 data for divesiran in polycythemia vera and the rapid launch of the offering on August 10. The capital raise strengthens the balance sheet ahead of further clinical development, though the offering price was slightly below the current market price of $13.72.
At the time of this announcement, SLN was trading at $13.72 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $660M. The 52-week trading range was $4.19 to $17.58. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: BusinessWire.