Disc Medicine prices an enlarged $450 million equity offering

Disc Medicine ($IRON) priced an upsized public offering of six million common shares at $75 each, generating expected gross proceeds of $450 million before underwriting discounts and expenses. Underwriters have a 30-day option to buy another 900,000 shares, which could add $67.5 million if fully exercised. Closing is expected on October 22, subject to customary conditions; the pricing announcement is not confirmation that funding has already settled.

The company plans to use the money for research and development, potential commercialization of bitopertin for erythropoietic and X-linked protoporphyria, and general corporate purposes. The financing would materially strengthen its resources while increasing the share count. Potential commercial spending does not imply regulatory approval of bitopertin. The underwriters’ option would create further dilution if exercised, and the financing remains subject to closing rather than representing cash already on the balance sheet.

Sources:

• Disc Medicine — issuer offering-pricing release
• Disc Medicine — GlobeNewswire offering announcement