4D Molecular Therapeutics Raises Approximately $300 Million in Upsized Public Offering
EMERYVILLE, Calif. Feb.06, 2024 - 4D Molecular Therapeutics, Inc.(Nasdaq: FDMT), a clinical-stage genetic medicines company, has successfully priced an upsized underwritten public offering of its common stock, raising approximately $300 million in gross proceeds.
The offering included the sale of 6,586,015 shares of common stock at a price of $29.50 per share, as well as pre-funded warrants to purchase 3,583,476 shares of common stock at a price of $29.4999 per warrant.The per share public offering price for the common stock was reduced by the $0.0001 per share exercise price for each pre-funded warrant.
Additionally, 4D Molecular Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 1,525,423 shares of common stock at the public offering price.All shares and pre-funded warrants in the offering are being sold by 4D Molecular Therapeutics.
The closing of the offering is set to occur on February 9, 2024, subject to customary closing conditions.
This successful fundraising initiative will provide significant financial support for 4D Molecular Therapeutics’ ongoing development of genetic medicines aimed at treating large market diseases.The company, known for its expertise in unlocking the full potential of genetic medicines, is poised to make further strides in its clinical-stage programs.
Just a day before the announcement of the pricing of the public offering, 4D Molecular Therapeutics had unveiled its plans to commence an underwritten public offering of $250.0 million of common stock.This updated pricing indicates the strong demand and investor interest in the company’s offerings.
It is worth noting that as of the writing of this article, 4D Molecular Therapeutics’ stock is trading at $33.21, resulting in a year-to-date performance of -17.69%. The successful upsized public offering is expected to provide a boost to the company’s market position and potentially improve its stock performance in the future.
In conclusion, 4D Molecular Therapeutics has successfully raised approximately $300 million through an upsized public offering, indicating the enthusiasm of investors in the company’s genetic medicines programs.The offering will provide essential funds for the ongoing development of treatments for large market diseases.As the offering is set to close on February 9, 2024, the company’s future prospects and stock performance will be closely watched.
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