Monte Rosa prices 10.6M shares at $4.70 in underwritten public offering

Monte Rosa Therapeutics announced the pricing of an underwritten public offering of 10,638,476 shares of its common stock at a public offering price of $4.70 per share and, in lieu of common stock to certain investors, pre-funded warrants to purchase 10,638,524 shares of common stock at a public offering price of $4.6999 per pre-funded warrant, which represents the per share public offering price of each share of common stock less the $0.0001 per share exercise price for each pre-funded warrant. The gross proceeds to Monte Rosa from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $100 million. All of the shares and pre-funded warrants in the offering are to be sold by Monte Rosa. The offering is expected to close on or about May 20, 2024, subject to satisfaction of customary closing conditions. The financing was led by Dimension and a life-sciences focused institutional investor, with participation from other new and existing investors. TD Cowen and Wedbush PacGrow are acting as joint book-running managers for the offering.