Insmed Secures Over $700M from Stock Sale Agreement

Insmed (INSM) has issued an update.

Insmed Incorporated recently entered into an agreement with Goldman Sachs & Co. LLC and Leerink Partners LLC to sell over 12.6 million shares of common stock, with an option for underwriters to purchase an additional 1.89 million shares, which they fully exercised. Priced at $49.1825 per share, the company stands to net approximately $713.9 million before expenses. The offering, executed under a previously filed shelf registration statement, is set to close on May 31, 2024, with the underwriters indemnified against certain liabilities.

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