Dyne Therapeutics shares fell 9% on Wednesday after the biotechnology company priced a public offering of common stock expected to raise approximately $375 million. The offering was priced at $20.50 per share, a discount of about 14% to Tuesday's closing price of $23.83. Dyne priced an upsized offering of 18.3 million shares, with gross proceeds estimated at $375.15 million before underwriting discounts and expenses. The company also granted underwriters a 30-day option to purchase up to an additional 2.745 million shares. Morgan Stanley, Jefferies, Evercore ISI, LifeSci Capital and Raymond James are joint book-running managers, with Jones as lead manager. The offering is expected to close on or around July 23, 2026.
Dyne Therapeutics IncCompany priced a $375M public offering at a 14% discount, diluting existing shareholders.