Mersana Therapeutics (MRSN) Prices 8M Share Common Offering at $19/Sh
Mersana Therapeutics, Inc. (NASDAQ: MRSN) today announced the pricing of an underwritten public offering of 8,000,000 shares of common stock at a price to the public of $19.00 per share. Gross proceeds to Mersana from the offering are expected to be $152.0 million, before deducting underwriting discounts and commissions and offering expenses payable by Mersana. In addition, Mersana has granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of common stock, at the public offering price less underwriting discounts and commissions. All shares are being sold by Mersana. The offering is expected to close on June 2, 2020, subject to the satisfaction of customary closing conditions.
Cowen and SVB Leerink are acting as joint bookrunning managers for the offering. Wedbush PacGrow is acting as lead manager and Baird and H.C. Wainwright & Co. are acting as co-managers for the offering.
Mersana intends to use the net proceeds from the offering to support clinical development of XMT-1536 and XMT-1592, to progress Mersana’s next ADC product candidates into Phase 1 clinical development, to progress Mersana’s early platform development and the balance to fund working capital, capital expenditures and other general corporate purposes.