Nuvalent Prices Public Offering Of About 5.36 Mln Shares At $56/shr

(RTTNews) - Nuvalent Inc. (NUVL), a clinical-stage biopharmaceutical company focused on creating precisely targeted therapies for clinically proven kinase targets in cancer, said that it priced its underwritten public offering of about 5.36 million shares of Class A common stock at a price to the public of $56.00 per share.

The company expects the gross proceeds to from the offering, before deducting underwriting discounts, commissions and other offering expenses, to be approximately $300.0 million.

The offering is expected to close on October 19, 2023.

In addition, the underwriters have a 30-day option to purchase up to an additional 803,571 shares of Class A common stock at the public offering price less underwriting discounts and commissions.