Wave Life Sciences Begins Public Offering Of $100 Mln Of Shares; Stock Down Over 21%

(RTTNews) - Wave Life Sciences Ltd. (WVE), a clinical-stage RNA medicines company, said that it has started an underwritten public offering of $100 million of its shares and pre-funded warrants.

In the aftermarket, WVE was trading down by 21.40 percent at $5.40 per share on the Nasdaq.

The drug maker intends to grant the underwriters a 30-day option to purchase shares in an amount up to an additional 15 percent of the total amount of ordinary shares and pre-funded warrants sold in the offering.

Wave will sell all of the securities in the offering.

J.P. Morgan and Leerink Partners are serving as joint book-running managers for the offering.