Madrigal pharmaceuticals announces proposed public offering

Conshohocken, pa., march 18, 2024 (globe newswire) -- madrigal pharmaceuticals, inc. (nasdaq: mdgl), a biopharmaceutical company focused on delivering novel therapeutics for nonalcoholic steatohepatitis (nash), today announced that it has commenced an underwritten public offering of $500 million in shares of its common stock and pre-funded warrants to purchase common stock. the purchase price of each pre-funded warrant will equal the price per share at which shares of common stock are being sold to the public in this offering, minus $0.0001, which will be the per share exercise price of each pre-funded warrant. madrigal also intends to grant the underwriters a 30-day option to purchase up to an additional fifteen percent (15%) of the shares of common stock offered in the public offering at the public offering price, less underwriting discounts and commissions. all of the shares in the proposed offering are to be sold by madrigal.
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