Viridian Therapeutics announces $250 million in proposed public offerings

Viridian Therapeutics Inc. (NASDAQ: VRDN) announced it has commenced underwritten public offerings totaling $250 million, consisting of $150 million in convertible senior notes due 2032 and $100 million in common stock and Series B non-voting convertible preferred stock.

The convertible notes will be general, unsecured, senior obligations with interest payable semi-annually. The notes mature on May 15, 2032, unless earlier converted, redeemed or repurchased. Upon conversion, Viridian will pay or deliver cash, shares of common stock, or a combination of both at the company's election.

Each share of Series B preferred stock will be convertible into 66.67 shares of common stock at the holder's election, subject to beneficial ownership conversion limits.

Viridian granted underwriters 30-day options to purchase up to an additional 15% of convertible notes and equity securities offered in each respective offering to cover over-allotments.

The company stated it intends to use net proceeds to repay outstanding debt under its loan agreement with Hercules Capital Inc., fund market expansion studies for its thyroid eye disease franchise, advance research and development of its earlier pipeline, and for working capital and general corporate purposes.

The closings of the two offerings are not contingent upon each other. The offerings are subject to market and other conditions, with no assurance regarding completion, timing, or final terms.

Jefferies, Leerink Partners, and Goldman Sachs serve as joint book-running managers for both offerings. LifeSci Capital acts as lead manager for the convertible notes offering, while LifeSci Capital and Wedbush PacGrow serve as lead managers for the equity offering.

A registration statement relating to these securities became effective with the Securities and Exchange Commission on September 5, 2025, according to the company's statement.

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