Adverum Biotechnologies (ADVM) to Offer $100M in Stock

Adverum Biotechnologies, Inc. (Nasdaq: ADVM) announced that it has commenced an underwritten public offering of $100 million of its common stock. The company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering. All of the shares in the offering will be sold by Adverum Biotechnologies. The offering is subject to market and other conditions, and there can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Goldman Sachs & Co. LLC, Cowen and Company, LLC, and SVB Leerink LLC, are acting as joint book-running managers for the proposed offering. LifeSci Capital LLC is acting as lead manager for the proposed offering.

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