Indication intelligence, analysis and sector perception

Editas Medicine (EDIT) closes 6.9 million shares offering at $31.25

June 26, 2020 4:39pm

EDIT closed down -$2.49 (-7.93%) to $28.92 at the market close of the offering close

EDIT had upped the 4 million share offering to 6 million, then sold 6.9 million shares which includes the greenshoe of 900 K shares

Gross proceeds were $215.6 million

EDIT offered and sold 6,000,000 shares of its common stock in an underwritten public offering.

At $31.25

Editas Medicine intends to grant the underwriter a 30-day option to purchase up to an additional 900,000 shares of its common stock. All of the shares in the offering are to be sold by Editas Medicine.

Gross preceeds are expected at $215.6 million

Morgan Stanley is acting as sole book-running manager for the offering.

The Bottom Line: expected … as an offering was announced at a 52-week high, which scared me into a SELL mode. I was right that Tuesday's a.m. to post Sell into Strength

35 companies, 1 interpreter!

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