Avidity Biosciences Inc. (RNA) Prices 14.4M Share IPO at $18/Sh

Avidity Biosciences Inc. (NASDAQ: RNA) today announced the pricing of its initial public offering of 14,400,000 shares of common stock at a public offering price of $18.00 per share. The shares are expected to begin trading on the Nasdaq Global Market on June 12, 2020 under the ticker symbol "RNA". All of the shares are being offered by Avidity. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Avidity, are expected to be $259.2 million. The offering is expected to close on June 16, 2020, subject to satisfaction of customary closing conditions. In addition, Avidity has granted the underwriters a 30-day option to purchase up to an additional 2,160,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

Cowen, SVB Leerink, Credit Suisse and Wells Fargo Securities are acting as joint book-running managers for the offering.

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