Magenta Therapeutics (MGTA) Prices 7.5M Share Common Offering at $8/Sh

Magenta Therapeutics, Inc. (NASDQ: MGTA) announced the pricing of an underwritten public offering of 7,500,000 shares of its common stock at a public offering price of $8.00 per share. Magenta also granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of its common stock. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be $60.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. All of the shares in the offering are to be sold by Magenta.

Goldman Sachs & Co. LLC and Cowen are acting as joint bookrunning managers for the offering. The offering is expected to close on or about June 29, 2020, subject to customary closing conditions.

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