EMERYVILLE, Calif. - Metagenomi, Inc. (NASDAQ:MGX), a company specializing in precision genetic medicines, has finalized its initial public offering (IPO), raising approximately $93.75 million before expenses. The company offered 6,250,000 shares of common stock at $15.00 per share. Following the IPO, Metagenomi granted underwriters a 30-day option to purchase up to an additional 937,500 shares at the IPO price, minus underwriting discounts and commissions.
The shares commenced trading on the Nasdaq Global Select Market on February 9, 2024, under the ticker symbol MGX. The book-running managers for this offering included J.P. Morgan, Jefferies, TD Cowen, Wells Fargo Securities, and BMO Capital Markets, with Chardan serving as the lead manager.
Metagenomi's approach involves leveraging metagenomics, which is the study of genetic material recovered from environmental samples. Through this method, the company aims to develop a range of novel editing tools to correct genetic mutations. Their genome editing toolbox features nucleases, base editors, and DNA-mediated integration systems, which the company believes will enable them to address a wide variety of genetic conditions.
This news article is based on the press release statement from Metagenomi.
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