MREO

Mereo BioPharma Prices Offering Of $50 Mln Of American Depositary Shares

(RTTNews) - Mereo BioPharma Group Plc (MREO), a company focused on rare diseases, on Friday announced the pricing of an underwritten registered direct offering of 12.531 million of its American Depositary Shares or ADSs at $3.99 per ADS.

The gross proceeds from the offering, to be closed on or about June 17, are expected to be around $50 million.

The company intends to use the net proceeds to fund the setrusumab program, including supply and pre-launch activities in Europe, for working capital, and other general corporate purposes. Each ADS represents five shares of Mereo.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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