ARTICLE | Finance
CRISPR, Acceleron follow-ons among year’s largest
July 2, 2020 1:04 AM UTC
A pair of biotechs priced upsized follow-on offerings late Tuesday, with CRISPR Therapeutics and Acceleron each raising $450 million, good for a tie for the year’s tenth-largest follow-on financing.
CRISPR Therapeutics AG (NASDAQ:CRSP) sold 6.4 million shares at $70. The price is a 7% discount to the company’s closing price Monday of $75.05, when it proposed the deal after market hours. Its shares slipped 2% the next day, then climbed $5.01 to $78.50 during Wednesday’s session...