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Homology Medicines increases share count for IPO

Homology Medicines Inc. raised the share count for its planned IPO on the Nasdaq Global Select Market to 10,350,000 common shares.

The new share count includes the overallotment option for the underwriters to buy up to an additional 1,350,000 shares.

The Bedford, Mass.-based genetic medicines company expects the offering price to be between $14.00 per share and $16.00 per share, and expects the shares to trade on the exchange under the symbol FIXX.

Previously, Homology planned to sell 7,667,050 common shares in the IPO, out of which underwriters had the option to buy 1,000,050 shares.

Homology also noted that certain of its existing stockholders, including entities affiliated with certain directors, have indicated an interest in buying about $50.0 million of common shares in the IPO.

Assuming an offering price of $15.00 per share, net proceeds from the offering are expected to be about $122.7 million, or $141.5 million if the underwriters fully exercise their overallotment option.

Merrill Lynch Pierce Fenner & Smith Inc., Cowen and Co. LLC, Evercore Group LLC and BTIG LLC are acting as underwriters for the offering.

Homology Medicines is focused on translating proprietary gene editing and gene therapy technologies into novel treatments for patients with rare diseases.