By Elias Schisgall
Shares of Crispr Therapeutics were lower after the company said it would raise $350 million through a private offering of senior notes.
The stock was down 7.3% at $54.49 in Tuesday morning trading. The stock has gained 25% in the past year.
The biopharmaceutical company, which focuses on gene-based medicines, said it plans to sell the convertible senior notes, due 2031, in a private offering to qualified institutional buyers. It said it will use the proceeds for general corporate purposes.
Initial purchasers of the notes will have a 13-day option to buy an additional $52.5 million in senior notes, the company said.
The notes will accrue interest payable on March 1 and Sept. 1 of each year, beginning Sept. 1 2026, and ending March 1, 2031. Notes can also be converted into common shares.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
March 10, 2026 10:43 ET (14:43 GMT)
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