Nuvalent (NUVL) announced that it has commenced an underwritten public offering of shares of Class A common stock. Nuvalent is offering $500M of shares in the offering. In addition, Deerfield Healthcare Innovations Fund and Deerfield Private Design Fund IV expect to grant the underwriters a 30-day option to purchase from the selling stockholders up to an additional 15% of the shares of Class A common stock sold in the public offering at the public offering price less underwriting discounts and commissions. Nuvalent will not receive any proceeds from any sale of shares by the selling stockholders. J.P. Morgan, Jefferies, TD Cowen and Cantor are acting as joint book-running managers for the offering.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NUVL:
- Nuvalent price target raised to $152 from $112 at Barclays
- Nuvalent rises 15.8%
- Nuvalent price target raised to $135 from $115 at Stifel
- Nuvalent price target raised to $149 from $140 at Leerink
- Nuvalent’s Neladalkib: Promising ALK+ NSCLC Treatment with Strong Phase 2 Data and De-risked Approval Path