Viridian Therapeutics, Inc. (NASDAQ: VRDN) announced the pricing of two concurrent public offerings totaling $350 million in gross proceeds. The biotechnology company priced $225 million in 1.75% convertible senior notes due 2032 and 7,352,942 shares of common stock at $17.00 per share.

The company estimates net proceeds of approximately $334.7 million after underwriting fees and expenses. Both offerings include overallotment options allowing underwriters to purchase an additional $25 million in convertible notes and 1,102,941 additional shares within 30 days.

The convertible notes carry a 1.75% annual interest rate with semi-annual payments beginning November 15, 2026. The notes mature May 15, 2032, with an initial conversion rate of 40.5680 shares per $1,000 principal amount, equivalent to a conversion price of approximately $24.65 per share. This represents a 45% premium above the equity offering price.

Noteholders may convert under certain conditions before February 15, 2032, and at any time thereafter until maturity. The company may redeem the notes starting May 20, 2030, if its stock price exceeds 130% of the conversion price for specified periods.

Viridian plans to use proceeds to repay debt under its agreement with Hercules Capital, fund market expansion studies for its thyroid eye disease franchise, advance research and development of its pipeline, and for general corporate purposes.

Both offerings are expected to close May 11, 2026, subject to customary conditions. Jefferies, Leerink Partners, and Goldman Sachs serve as joint book-running managers for both offerings, with additional lead managers participating.