DURHAM, N.C. - Precision BioSciences, Inc. (NASDAQ: NASDAQ:DTIL), a company specializing in advanced gene editing with its ARCUS® platform, has initiated a public offering of its common stock and warrants. The offering also includes pre-funded warrants as an alternative to common stock for some investors.
The announcement was made today, signaling the company's move to raise capital through the sale of securities.
The terms of the offering include a 30-day option for underwriters to purchase an additional 15% of the total number of shares and warrants, contingent on market conditions. The completion and specifics of the offering, such as its timing and scale, are currently uncertain and dependent on these conditions.
Guggenheim Securities, LLC is serving as the sole book-running manager for the offering. The securities are being offered under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) on June 9, 2023. Details of the offering will be available through a prospectus supplement and the accompanying prospectus filed with the SEC.
Precision BioSciences’ ARCUS® platform is distinguished by its unique approach to genome editing, which may lead to more precise therapeutic outcomes.
The company's pipeline includes in vivo gene editing therapies aimed at providing cures for a variety of genetic and infectious diseases for which current treatments are inadequate.
The press release includes forward-looking statements regarding the offering and the company's expectations. Potential risks that could impact the actual results include market volatility and the ability to meet the offering's closing conditions.
Precision BioSciences has noted that these statements are based on current beliefs and projections, subject to change, and advises caution in relying on them.
This information is based on a press release statement and should be considered in the context of the risks and uncertainties outlined by Precision BioSciences, including those detailed in its SEC filings. The proposed offering is not guaranteed and is subject to regulatory approval and market conditions.
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