trending Market Intelligence /marketintelligence/en/news-insights/trending/gx3d_e0uao1pst4ooerrlq2 content esgSubNav
In This List

Syros raises additional funds via offering

Blog

A Pharmaceutical Company Capitalizes on M&A Activity with Brokerage Research

Blog

2021 Year in Review: Highlighting Key Investment Banking Trends

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Global M&A By the Numbers: Q3 2021


Syros raises additional funds via offering

Syros Pharmaceuticals Inc. said it raised additional funds after underwriters of its previously announced offering exercised their overallotment option.

The company had previously issued $37.3 million worth of stock but ended up issuing another 628,272 shares at $9.55 each to raise $42.9 million in net proceeds.

All in all, the Cambridge, Mass.-based company issued 4,816,753 shares under the offering to raise funds for continued operations.

Syros develops treatments for cancer and immune-mediated diseases. Incyte Corp., an investor in the company, purchased an additional $1.4 million worth of the company's stock to maintain its holdings in the business.

J.P. Morgan Securities LLC, Cowen and Co. LLC and Piper Jaffray & Co. acted as joint book-running managers for the offering. JMP Securities LLC acted as lead manager.