Editas Medicine, Inc. (EDIT), a gene editing company developing CRISPR-based medicines, announced the pricing of an underwritten public offering of 55,555,556 shares of common stock and accompanying warrants to purchase an equal number of shares. Each share and warrant are being sold together at a combined public offering price of $2.25.
The offering is expected to generate gross proceeds of approximately $125 million before expenses, assuming no exercise of warrants. If all warrants are exercised at their $3.50 per share exercise price, Editas could receive an additional $194.4 million, bringing the total potential proceeds to $319.4 million.
The warrants will be exercisable immediately and will expire either 30 days after the company publicly reports Phase 1 data from its lead candidate EDIT-401 showing significant LDL-cholesterol reduction in at least three patients, or three years from issuance, whichever comes first.
The offering is expected to close on or about May 27, 2026, subject to customary closing conditions. Cantor Fitzgerald and Wells Fargo Securities are acting as joint book-running managers.
EDIT has traded between $1.56 and $4.53 over the past year. The stock is currently trading at $2.77, up 0.54%.
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