Adverum Biotechnologies (ADVM) Prices 14.5M Share Common Offering at $13/Sh

Adverum Biotechnologies, Inc. (NASDAQ: ADVM) today announced the pricing of its underwritten public offering of 14,500,000 shares of its common stock at a public offering price of $13.00 per share. The company has granted the underwriters a 30-day option to purchase up to an additional 2,175,000 shares of its common stock offered in the public offering at the public offering price, less discounts and commissions. All of the shares in the offering are being sold by Adverum Biotechnologies. Adverum expects gross proceeds from the offering, before deducting the underwriting discounts and commissions and offering expenses, will be approximately $188.5 million, assuming no exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about August 17, 2020, subject to satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC, Cowen and Company, LLC, SVB Leerink LLC and Piper Sandler & Co. are acting as joint book-running managers for the offering.

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