Verve rais­es $148M via pub­lic stock of­fer­ing, pri­vate place­ment with Eli Lil­ly (cor­rect­ed)

Af­ter re­leas­ing the first-ever re­sults of an in vi­vo base edit­ing ther­a­py in hu­mans, Verve Ther­a­peu­tics has priced a pub­lic of­fer­ing of 12.5 mil­lion shares of its com­mon stock as well as a pri­vate place­ment with Eli Lil­ly.

Verve will pull in $125 mil­lion sell­ing off its com­mon stock at $10 per share — a dis­count to its trad­ing price pri­or to the an­nounce­ment of the pub­lic of­fer­ing — and an­oth­er $23 mil­lion from Eli Lil­ly in ex­change for 2.2 mil­lion shares for a to­tal of $148 mil­lion. Both the pub­lic of­fer­ing and pri­vate place­ment are ex­pect­ed to close on Dec. 1.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER