NEW YORK (GenomeWeb) – Editas Medicine announced Monday that is has closed its initial public offering, raising $97.8 million in net proceeds, including the over-allotment option.
The Cambridge, Massachusetts-based gene editing firm sold 5.9 million shares at the public offering price of $16 per share as well as 885,000 additional shares issued to the underwriters, who fully exercised the over-allotment option.
Morgan Stanley and JP Morgan acted as joint book-running managers for the offering, while Cowen and Company acted as lead manager, and JMP Securities acted as co-manager.
Shares began trading on the Nasdaq Global Select Market on Feb. 3, 2016. In afternoon trading on Monday, shares of Editas were down 10 percent at $15.85.