Roivant Sciences (Nasdaq: ROIV) has announced the pricing of an upsized underwritten public offering of 26,666,666 of its common shares at a price to the public of US$7.50 per share. All of the common shares to be sold in the offering are to be sold by Roivant. The gross proceeds to Roivant from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be US$200 million. In addition, Roivant has granted the underwriters a 30-day option to purchase up to an additional 3,999,999 common shares on the same terms and conditions. The offering is expected to close on February 7, 2023, subject to customary closing conditions.
Latham & Watkins LLP represents the underwriters in the offering with a New York capital markets team led by partners Nathan Ajiashvili, Alison Haggerty, and Salvatore Vanchieri, with associates Paul Rafla and Ian Lachow.