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MeiraGTx to raise $75.2M from stock offering

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MeiraGTx to raise $75.2M from stock offering

MeiraGTx Holdings PLC priced its planned public offering of 3.2 million common shares at $23.50 apiece to raise gross proceeds of about $75.2 million.

The company also granted a 30-day option to underwriters to buy up to an additional 480,000 shares.

New York-based MeiraGTx, which develops gene therapies, plans to use net proceeds to expand manufacturing capabilities, including building a facility outside of the U.K. as well as a plasmid production facility. Funds will also be used for ongoing clinical development and general corporate purposes.

Bank of America Merrill Lynch, Piper Jaffray and Chardan are acting as joint book-running managers for the offering.