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Stock offerings

Dyne Therapeutics Commences Underwritten Public Offering of Common Stock

Strategic Insights

— 1 min read

Dyne Therapeutics, Inc. has launched an underwritten public offering of $200,000,000 of shares of its common stock, with Morgan Stanley, Jefferies, Stifel, and Guggenheim Securities acting as joint book-running managers. The company intends to sell all the shares in the proposed offering, with the option to grant the underwriters a 30-day option to purchase up to an additional $30,000,000 of shares. This move comes as the company seeks to raise funds for its clinical-stage programs focused on delivering functional improvement for people living with genetically driven neuromuscular diseases.

Key Takeaways:

  • Dyne Therapeutics has initiated an underwritten public offering of $200,000,000 of shares of its common stock.
  • The proposed offering is being made by Dyne itself, with the option to grant the underwriters a 30-day option to purchase up to an additional $30,000,000 of shares.
  • Morgan Stanley, Jefferies, Stifel, and Guggenheim Securities are acting as joint book-running managers for the offering.
  • Jones is acting as co-manager for the offering.
  • The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.
  • The offering is being made pursuant to a shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission on March 5, 2024.
  • A preliminary prospectus supplement relating to the offering is expected to be filed with the SEC and may be obtained for free by visiting the SEC's website at www.sec.gov.

Statistics:

  • The proposed public offering is worth $200,000,000, with the option to raise up to an additional $30,000,000.
  • Dyne Therapeutics will sell $200,000,000 of its common stock, with the potential for an additional $30,000,000 in shares.

Sources:

  • Dyne Therapeutics, Inc. news release
  • Morgan Stanley & Co. LLC
  • Jefferies LLC
  • Stifel, Nicolaus & Company, Incorporated
  • Guggenheim Securities, LLC
  • Securities and Exchange Commission (SEC)
  • Form S-3, filed with the SEC on March 5, 2024

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