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Amicus Therapeutics prices $175M underwritten common stock offering

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Amicus Therapeutics prices $175M underwritten common stock offering

Amicus Therapeutics Inc. priced an underwritten offering of 16,279,070 common shares for $10.75 per share.

The company expects gross proceeds of $175 million for the offering, which is expected to close June 4.

Underwriters were granted a 30-day option to purchase up to 2,441,860 additional common shares.

Amicus Therapeutics has previously announced that it intends to use the proceeds from the offering for the development of its expanded gene therapy pipeline and manufacturing capabilities for Pompe biologic AT-GAA and gene therapy product candidates.

The company also intends to use the proceeds for the completion of the design and build of the Amicus Process Science and Gene Therapy Manufacturing facility and for general corporate and product development purposes.

J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and SVB Leerink LLC are the joint book-running managers for the offering.