Indication intelligence, analysis and sector perception

Adverum Biotechnologies (ADVM) closes $216.8 million offering priced at $3.00

August 12, 2020 10:21am

16,675 million shares were offered which included an additional 2,175 million underwiter option

Goldman Sachs & Co. LLC, Cowen and Company, LLC, SVB Leerink LLC and Piper Sandler & Co. are acting as joint book-running managers for the proposed offering.

ADVM is DOWN -$0.16 to $13.55 at closing

ADVM had initially commenced an underwritten public offering of 14.5 million shares with an underwriter a 30-day option to purchase up to an additional 2.175,000 of the shares of its common stock offered in the public offering.

The "hope" was to raise $188.5 million ... and got $217 million

Goldman Sachs & Co. LLC, Cowen and Company, LLC, SVB Leerink LLC and Piper Sandler & Co. are acting as joint book-running managers for the proposed offering.

The Bottom Line: a 52-week change of +27.27%

Float of 51.65 million shares
Shares outstanding: 80.3 million
Share short: 11.85 million (7/31), a ratio of 12.28%
Cash: $280.1m M
Debt: 31.48 M
Operating margin: (ttm): -36,120.80%

35 companies, 1 interpreter!

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