Cogent Biosciences (COGT) said Thursday it expects to raise about $546.8 million in net proceeds from separate equity and convertible senior notes offerings.

The company previously said it has entered into an agreement with several underwriters, including JPMorgan Securities and Jefferies (JEF), to issue and sell about 9.7 million shares at $31 per share.

Cogent granted the underwriters a 30-day option to purchase up to about 1.5 million additional shares, which were fully exercised on Wednesday.

The offering is set to close Thursday.

Meanwhile, the company also agreed to issue and sell $200 million in 1.625% convertible senior notes due 2031 to several underwriters.

The company granted a 30-day option to purchase up to an additional $30 million in notes to cover over-allotments, which was fully exercised. Net proceeds from the notes offering are expected to be about $222.8 million, with closing scheduled for Nov. 18, 2025.

Cogent shares were up more than 5% in recent Thursday pre-bell activity.