Madrigal pharmaceuticals announces pricing of $500 million public offering

Conshohocken, pa., sept. 28, 2023 (globe newswire) -- madrigal pharmaceuticals, inc. (nasdaq: mdgl), a clinical-stage biopharmaceutical company pursuing novel therapeutics for nonalcoholic steatohepatitis (nash), today announced the pricing of its underwritten public offering of 1,248,098 shares of its common stock at a public offering price of $151.69 per share, and, to certain investors, pre-funded warrants to purchase 2,048,098 shares of common stock at a price of $151.6899 per pre-funded warrant, which represents the per share public offering price for the common stock less the $0.0001 per share exercise price for each such pre-funded warrant. the gross proceeds to madrigal from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $500 million. madrigal has granted the underwriters of the offering a 30-day option to purchase up to an additional 494,429 shares of common stock from the company at the public offering price, less underwriting discounts and commissions.
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