BridgeBio Pharma Inc., a company that operates in the commercial-stage biopharmaceutical industry focusing on genetic diseases and cancers, has reported the initiation of a public offering of its common stock valued at $250 million.
In addition to this share offering, BridgeBio has sketched out plans to give underwriters the privilege to purchase an additional $37.5 million worth of its common stock indefatigably for a period lasting 30 days. Furthermore, it should be noted that all proposed shares for this offering are set to be sold by BridgeBio.
For this undertaking, J.P. Morgan, Cantor Fitzgerald & Co., and Mizuho are collaborating as joint book-running managers while Raymond James steers the ship as the lead manager.
As of the end of regular trading hours on Monday, BridgeBio's stock closed at $32.35 incorporating a decrease of $3.28 or 9.19%. With after-hours trading in progress, the deflation pattern persisted with the stock value dipping by an additional $1.09 or 3.38%.
