Policy & Regulation
Magenta Therapeutics concludes USD69.0m public offering
1 July 2020 -

Biotechnology company Magenta Therapeutics Inc (Nasdaq:MGTA) revealed on Tuesday the completion of its underwritten public offering of 8,625,000 shares of its common stock at a price of USD8.00 per share.

This underwritten public offering includes the exercise in full by the underwriters of their option to purchase an additional 1,125,000 shares from the company at the same offering price.

Before deducting underwriting discounts and commissions and estimated offering expenses, the company raised total gross proceeds of approximately USD69.0m.

Net proceeds may be used by the company to advance its clinical and earlier stage programmes, research and development, working capital and general corporate purposes.

For the offering, Goldman Sachs & Co LLC and Cowen acted as joint bookrunning managers. Wedbush PacGrow acted as lead manager.

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