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Spyre Therapeutics Prices Public Offering, Eyes $200 Million

Spyre Therapeutics Inc. has announced the pricing of its public offering, seeking $200 million through the sale of approximately 7.28 million shares at $27.50 each. This move may influence investor perception and stock valuation leading up to the offering's closure.

Date: 
AI Rating:   6

Spyre Therapeutics Inc. (SYRE) has announced a public offering of roughly 7.28 million shares priced at $27.50 each, aiming for gross proceeds of $200 million. This capital raise could provide the company with essential funds to support its operations, potentially impacting its stock price positively if investors see this as a strategic move for growth.

The offering also includes an option for underwriters to buy an additional 1.09 million shares, indicating further interest in the company's stock. The closure date for this offering is projected to be on or around November 20, 2024.