Dicerna Announces Closing of $70 Million Convertible Preferred Stock Financing
Dicerna Pharmaceuticals, Inc. (DRNA)
Last dicerna pharmaceuticals, inc. earnings: 2/27 04:05 pm
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Source: Business Wire
CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Dicerna Pharmaceuticals, Inc. (NASDAQ:DRNA) (the “Company”), a leading developer of investigational ribonucleic acid interference (“RNAi”) therapeutics, today announced that it has closed its previously announced stock purchase transaction for the sale of redeemable convertible preferred stock (“Preferred Stock”) to a syndicate of current and new investors led by Bain Capital Life Sciences, under which the Company received gross proceeds of $70.0 million. Under terms of the Preferred Stock purchase agreement, Adam M. Koppel, M.D., Ph.D., a managing director of Bain Capital Life Sciences, has joined Dicerna’s Board of Directors, which has been expanded to nine seats. At the closing, Dicerna issued 700,000 shares of Preferred Stock, which are convertible into common shares at an initial conversion price of $3.19 per share. Please refer to the Company’s Form 8-K,
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