Disc Medicine sets $75 share price for $450M offering
- Disc Medicine (IRON) priced an upsized public offering of 6M common shares at $75 each, with gross proceeds expected to reach $450M before underwriting discounts, commissions and other expenses.
- The clinical-stage biopharmaceutical company has granted underwriters a 30-day option to purchase up to an additional 900,000 shares at the offering price, less underwriting discounts and commissions.
- Disc Medicine plans to use the proceeds and existing cash to fund drug development, prepare for the potential commercialization of bitopertin for EPP and XLP, and support general corporate needs.
- The offering is expected to close on October 22.
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