Wave Life Sciences Ltd (WVE)

Shares of Wave Life Sciences Ltd. (WVE) dropped by 30.42% from $4.78 to $2.09 in the trading on Thursday, December 7, 2023. The reason why WVE is down today is due to the company's announcement of a previously disclosed underwritten public offering. Wave Life Sciences is offering 20,000,000 of its ordinary shares to the public at a price of $5.00 per ordinary share. This offering is expected to generate gross proceeds of approximately $100 million for Wave Life Sciences, before deducting underwriting discounts, commissions, and offering expenses. It is important to note that all of the ordinary shares in the offering are being sold by Wave Life Sciences. Additionally, the company has granted the underwriters a 30-day option to purchase up to an additional 3,000,000 of its ordinary shares under the same terms and conditions. The offering is anticipated to close on or about December 11, 2023, subject to customary closing conditions.