Prime medicine announces closing of upsized initial public offering

Cambridge, mass., oct. 24, 2022 (globe newswire) -- prime medicine, inc. (nasdaq: prme), a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, today announced the closing of its upsized initial public offering of 10,294,118 shares of its common stock at a price to the public of $17.00 per share. the gross proceeds of the offering were approximately $175.0 million, before deducting underwriting discounts and commissions and other offering expenses. in addition, prime medicine has granted the underwriters a 30-day option to purchase up to an additional 1,544,117 shares of its common stock at the initial public offering price less underwriting discounts and commissions. the shares began trading on the nasdaq global market on october 20, 2022 under the ticker symbol “prme.” all shares in the offering were offered by prime medicine.
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