Avidity Biosciences To Offer $150 Mln Of Shares To Public

(RTTNews) - Avidity Biosciences, Inc. (RNA) Thursday announced its plan to offer $150 million of shares to public.

The company also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares in the offering.

Avidity intends to use the net proceeds from the offering to fund its research and development programs as well as for general corporate purposes.

Cowen, Evercore ISI and Wells Fargo Securities are acting as joint bookrunning managers for the offering. Needham & Company and Raymond James are acting as co-lead managers for the offering, the company said.