Dyne Therapeutics Announces Pricing of $168 Million Public Offering

Rhea-AI Summary

Dyne Therapeutics (Nasdaq: DYN) announced a public offering of 6,000,000 shares at $28.00 each, with potential gross proceeds of approximately $168 million. The offering includes a 30-day option for underwriters to purchase an additional 900,000 shares. The closing is set for January 25, 2021, subject to customary conditions. The proceeds will support Dyne's development of innovative therapeutics for muscle diseases driven by genetics, utilizing its proprietary FORCE™ platform.

Positive

• Expected gross proceeds of approximately $168 million.
• Funds to support development of therapeutics for muscle diseases.

Negative

• Potential shareholder dilution from new shares.
• Market reaction uncertainty regarding the offering.

WALTHAM, Mass., Jan. 20, 2021 (GLOBE NEWSWIRE) -- Dyne Therapeutics, Inc. (Nasdaq: DYN), a muscle disease company focused on advancing innovative life-transforming therapeutics for people living with genetically driven diseases, today announced the pricing of an underwritten public offering of 6,000,000 shares of its common stock at a public offering price of $28.00 per share. In addition, Dyne has granted the underwriters a 30-day option to purchase up to 900,000 additional shares of common stock at the public offering price, less the underwriting discount and commissions. All of the shares are being offered by Dyne.

The gross proceeds of the offering, before deducting the underwriting discount and commissions and other offering expenses payable by Dyne, are expected to be approximately $168 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on Monday, January 25, 2021, subject to customary closing conditions.

J.P. Morgan, Jefferies, Piper Sandler and Stifel are acting as joint book-running managers for the offering.

A registration statement relating to the securities being sold in this offering has been filed with, and declared effective by, the Securities and Exchange Commission. This offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained, when available, from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone at (866) 803-9204 or via email at prospectus-eq_fi@jpmchase.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022, via telephone at (877) 821-7388 or via email at Prospectus_Department@Jefferies.com; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, via telephone at (800) 747-3924 or via email at prospectus@psc.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, via telephone at (415) 364-2720 or via email at syndprospectus@stifel.com.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Dyne Therapeutics

Dyne Therapeutics is building a leading muscle disease company focused on advancing innovative life-transforming therapeutics for people living with genetically driven diseases. The Company is utilizing its proprietary FORCE™ platform to overcome the current limitations of muscle tissue delivery with modern oligonucleotide therapeutic candidates. Dyne is developing a broad portfolio of therapeutics for muscle diseases, including programs in myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD) and facioscapulohumeral muscular dystrophy (FSHD).

Contact:

Dyne Therapeutics
Amy Reilly
areilly@dyne-tx.com
857-341-1203

FAQ

What is the size of Dyne Therapeutics' recent public offering?

Dyne Therapeutics announced a public offering of 6,000,000 shares of common stock.

What is the price per share for the public offering by DYN?

The public offering price is set at $28.00 per share.

When is the expected closing date for the DYN offering?

The offering is expected to close on January 25, 2021.

How much gross proceeds does Dyne Therapeutics expect from the offering?

Dyne Therapeutics expects gross proceeds of approximately $168 million from the offering.

What is the purpose of the funds raised in the DYN offering?

The funds are intended to support the development of therapeutics for genetically driven muscle diseases.