Merus Prices 5.26 Mln Shares At $57/Shr In Public Offering; To Raise Around $300 Mln

(RTTNews) - Merus N.V. (MRUS), a Dutch oncology company developing multispecific antibodies and antibody drug conjugates, Wednesday announced the pricing of an underwritten public offering of around 5.26 million shares, at a price of $57.00 per share. The gross proceeds from the offering are expected to be around $300 million.

The net proceeds from the offering, together with its existing cash, cash equivalents and marketable securities, will be used to advance the clinical development of its product candidates, as well as for preclinical research and technology development, among others.

Merus also granted the underwriters a 30-day option to purchase up to an additional 789,473 shares.

The expected gross proceeds is before deducting underwriting discounts and commissions and estimated offering expenses and excluding the underwriters option to purchase the Option Shares.

All of the shares in the offering are to be sold by Merus.

The offering is expected to close on or about June 5, subject to customary closing conditions.

In the offering, Jefferies, BofA Securities, Leerink Partners, Guggenheim Securities, Truist Securities, and LifeSci Capital are acting as joint book-running managers.

On the Nasdaq, Merus shares gained 6.7 percent on Tuesday's regular trading to close at $62.42. Meanwhile, the shares fell 6.7 percent in the extended trading to $58.27.