Mereo BioPharma prices $50M registered direct offering of 12.5M ADS at $3.99/ADS

Mereo BioPharma Group plc

Gross proceeds $50M from 12,531,300 ADS at $3.99 each; net proceeds ~$45.9M after expenses.
Underwriters: Jefferies, Leerink Partners, and Cantor Fitzgerald acting as joint book-runners.
New investors include Frazier Life Sciences, Deerfield Management, and Perceptive Advisors; existing holder participation.
Net proceeds to fund setrusumab program (supply and pre-launch in Europe) and general corporate purposes.
Offering expected to close on June 17, 2024, subject to customary conditions.

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