IDEAYA Biosciences stock slides after pricing securities offering to raise $263 million

IDEAYA Biosciences (NASDAQ:IDYA) said Monday it has priced an underwritten public offering of shares and warrants to raise about $263 million.
The company plans to offer 7.3 million shares of common stock at $35 per share and pre-funded warrants to purchase 285,715 shares of common stock at $34.9999 a piece.
The exercise price of the pre-funded warrants is $0.0001 per share.
The underwriters also have a 30-day option to purchase up to an additional 1,127,142 shares of common stock at the public offering price.
The offering is expected to close on or about July 11, 2024.
IDYA fell 4.19% to $37 in premarket trade on Wednesday.

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