Verve raises $148M via public stock offering, private placement with Eli Lilly (corrected)

Af­ter re­leas­ing the first-ever re­sults of an in vi­vo base edit­ing ther­a­py in hu­mans, Verve Ther­a­peu­tics has priced a pub­lic of­fer­ing of 12.5 mil­lion shares of its com­mon stock as well as a pri­vate place­ment with Eli Lil­ly.

Verve will pull in $125 mil­lion sell­ing off its com­mon stock at $10 per share — a dis­count to its trad­ing price pri­or to the an­nounce­ment of the pub­lic of­fer­ing — and an­oth­er $23 mil­lion from Eli Lil­ly in ex­change for 2.2 mil­lion shares for a to­tal of $148 mil­lion. Both the pub­lic of­fer­ing and pri­vate place­ment are ex­pect­ed to close on Dec. 1.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.