Adverum Biotechnologies (ADVM) Prices 9.5M Share Common Offering at $13.75/Sh
Adverum Biotechnologies, Inc. (NASDAQ: ADVM) today announced the pricing of its underwritten public offering of 9,500,000 shares of its common stock at a public offering price of $13.75 per share. The company has granted the underwriters a 30-day option to purchase up to an additional 1,425,000 shares of its common stock offered in the public offering at the public offering price, less discounts and commissions. All of the shares in the offering are being sold by Adverum Biotechnologies. Before deducting the underwriting discounts and commissions and estimated offering expenses, Adverum expects to receive total gross proceeds of approximately $130.6 million, assuming no exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about February 14, 2020, subject to satisfaction of customary closing conditions.
Goldman Sachs & Co. LLC, Cowen and Company, LLC, and SVB Leerink LLC, are acting as joint book-running managers for the offering. LifeSci Capital LLC is acting as lead manager for the proposed offering.