February 13, 2024 10:10am

CRSP had closed +$6.34 at $76.44 and is down -$3.14 at $73.30

Has entered into an investment agreement for the sale of approximately $280 million of its common shares

 


To a select group of institutional investors in a registered direct offering, at a price per share of $71.50, representing a premium of greater than 10% to CRISPR Therapeutics’ 30-day volume-weighted average price.

The financing is expected to close on or about February 27, 2024, subject to customary closing conditions.

 

The Bottom Line: news was positive and stock was up – wham, bam – time to finance

The financing is being led by EcoR1 Capital and SR One with participation from existing and new investors and a new healthcare specialist investor.

Adds to last reported cash of $1.74 B, strengthens balance sheet with pro forma cash position $2.1 +billion