other material
confidence high
sentiment neutral
materiality 0.60
Madrigal raises ~$86M from underwriters' option exercise; total offering ~$660M
MADRIGAL PHARMACEUTICALS, INC.
- Underwriters exercised option to purchase 346,153 shares at $260.00 per share.
- Option exercise closed on April 2, 2024; net proceeds of ~$86 million.
- Aggregate net proceeds from the offering and option exercise expected ~$660 million.
- Offering included 750,000 shares and pre-funded warrants for 1,557,692 shares.