IDEAYA Biosciences Inc. (IDYA) has announced the pricing for its underwritten public offering of common stock and pre-funded warrants.
The offering consists of approximately 7.23 million shares of common stock and pre-funded warrants for the purchase of 285,715 shares of common stock. The shares are being sold at a public offering price of $35.00 each, excluding underwriting discounts and commissions, while the pre-funded warrants are priced at $34.9999 per warrant.
The exercise price for the pre-funded warrants is set at $0.0001 per share. Furthermore, IDEAYA has extended to the underwriters a 30-day option to purchase up to an additional 1.13 million shares of common stock at the public offering price per share, prior to underwriting discounts and commissions.
IDEAYA anticipates gross proceeds from the offering to total approximately $263 million, prior to the deduction of underwriting discounts, commissions, and other expenses related to the offering, and excluding any revenue from the exercise of pre-funded warrants. The offering is projected to close around July 11, 2024.
