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.
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