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Nuvalent Inc. (NUVL) has announced the pricing of its expanded underwritten public offering, consisting of 5 million shares of Class A common stock at a public price of $100.00 per share.
The company anticipates gross proceeds of approximately $500 million from the offering, prior to the deduction of underwriting discounts, commissions, and other offering-related expenses.
The offering is slated to close on September 18, 2024. The underwriters have also been granted a 30-day option to purchase up to an additional 750,000 shares of Class A common stock at the public offering price, minus underwriting discounts and commissions.
On Monday, NUVL closed regular trading at $112.17, marking an increase of $24.72 or 28.27%. However, in after-hours trading, the stock fell by $0.67 or 0.60%.
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