89bio – a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardio-metabolic diseases – announced the pricing of its previously announced underwritten public offering of 16,923,077 shares of its common stock at a public offering price per share of $16.25. And 89bio has granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 2,538,461 shares of its common stock at the public offering price, less the underwriting discounts and commissions.
The gross proceeds of the offering to 89bio, before deducting the underwriting discounts and commissions and other offering expenses payable by 89bio are expected to be approximately $275 million. And the offering is expected to close on or about March 28, 2023, subject to the satisfaction of customary closing conditions.
Managers: BofA Securities, SVB Securities and Evercore ISI are acting as lead book-running managers for the offering, and RBC Capital Markets and Raymond James are also acting as book-running managers.
