Viridian Therapeutics Announces Pricing of Upsized Public Offering of Shares of Common Stock and Preferred Stock

Viridian Therapeutics, Inc. (NASDAQ: VRDN), a biotechnology company focused on discovering and developing potential best-in-class medicines for serious and rare diseases, today announced the pricing of an underwritten public offering of shares of its common stock and, in lieu of common stock to certain investors, shares of Series B non-voting convertible preferred stock. Viridian is selling a total of 10,666,600 shares of common stock at a public offering price of $18.75 per share and 20,000 shares of Series B non-voting convertible preferred stock at a public offering price of $1,250.06250 per share, which are convertible into 1,333,400 shares of common stock, subject to beneficial ownership conversion limits. In addition, Viridian has granted the underwriters a 30-day option to purchase an additional 1,800,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds to Viridian from the offering are expected to be approximately $225.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Viridian and assuming no exercise of the underwriters’ option to purchase additional shares.

All of the shares to be sold in the underwritten public offering are being offered by Viridian. The offering is expected to close on or about September 13, 2024, subject to customary closing conditions.

Viridian intends to use the proceeds from the proposed underwritten public offering of its shares of common stock and Series B preferred stock, together with its cash, cash equivalents and short-term investments, to further its clinical development programs, as well as for working capital and general corporate purposes.

Jefferies, Goldman Sachs & Co. LLC, Stifel and RBC Capital Markets are acting as joint book-running managers for the offering. Wedbush PacGrow is acting as co-manager for this offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) and became effective on September 9, 2022. A final prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering will be filed with the SEC. The securities described above have not been qualified under any state blue sky laws. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. The offering will only be made by means of a prospectus, copies of which may be obtained at the SEC’s website at www.sec.gov, or by request to Jefferies LLC (Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022; telephone: [phone]; email: [e-mail]); Goldman Sachs & Co. LLC (Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: [phone], facsimile: 212-902-9316 or by emailing [e-mail]); or Stifel, Nicolaus & Company, Incorporated (Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at [phone] or by email at [e-mail]).