Merus N.V. (MRUS) has announced the pricing of an upsized underwritten public offering comprising 7.55 million common shares, each priced at $53.00. Additionally, the company has extended a 30-day option to underwriters to purchase up to an additional 1.13 million common shares.
The anticipated gross proceeds from this offering, before considering underwriting discounts, commissions, and estimated offering expenses, and excluding the underwriters' option to acquire additional shares, are approximately $400.2 million.
The transaction is slated to close around May 31, 2024.
Merus plans to allocate the net proceeds from this offering, along with its existing cash, cash equivalents, and marketable securities, towards advancing the clinical development of its product candidates, conducting preclinical research and technology development, as well as for general corporate purposes and working capital.
