Avidity Biosciences Prices IPO Of 14.40 Mln Shares At $18/shr

(RTTNews) - Avidity Biosciences Inc. (RNA) said that it has priced its initial public offering of 14.40 million shares of common stock at $18.00 per share.

The shares are expected to begin trading on the Nasdaq Global Market on June 12, 2020 under the ticker symbol "RNA". The company expects the gross proceeds from the offering, before deducting underwriting discounts and commissions, are expected to be $259.2 million. The offering is expected to close on June 16, 2020, subject to satisfaction of customary closing conditions.

In addition, Avidity has granted the underwriters a 30-day option to purchase up to an additional 2.16 million shares of common stock at the initial public offering price, less underwriting discounts and commissions.