Viridian offers convertible preferred stock and common stock

By Wendy Van Sickle

Columbus, Ohio, Jan. 17 – Viridian Therapeutics Inc. announced the start of an underwritten public offering of shares of its common stock and series B preferred stock, according to a press release and a 424B5 filing with the Securities and Exchange Commission.

Each share of series B preferred stock will be convertible into 66.67 shares of common stock, subject to the beneficial ownership limitation.

Jefferies LLC and Leerink Partners LLC are working as joint bookrunners.

Counsel to the issuer is provided by Gibson, Dunn & Crutcher LLP and to the underwriters by Wilmer Cutler Pickering Hale and Dorr LLP.

The underwriters will have a 30-day option to purchase shares of the company’s common stock.

Proceeds will be used to further the company’s clinical development programs, as well as for working capital and general corporate purposes.

The company’s last reported common stock price on Wednesday was $23.14.

The company said it does not plan to list the preferred stock on a national securities exchange.

Viridian is a Waltham, Mass.-based biotechnology company.

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