Avidity Declared the Closing of the PO of Common Stock and More

Announcement

Avidity biosciences inc, a leading biopharmaceutical company dedicated to provide a new class of RNA therapeutics known as antibody oligonucleotide conjugates (AOCs) have closed its last introduced underwritten public offering of 17,250,000 shares of its common stock consisting of 2,250,000 shares sold pursuant to the underwriter’s full exercise of their alternative to buy additional shares at the rate of the public of $40.00 per share. The gross continues to avidity with the offering before the deduction of the commissions and underwriting discounts, and other offering expenses were around $690.0 million. The shares sold during the offering were sold by avidity.

Avidity plans to use the net proceeds from this offering, along with its existing cash equivalents, marketable securities, and cash, to further improve the development of three late-stage clinical programs to form accurate commercial inventory volume to contribute to various potential launches. This will lead to the expansion of its commercial infrastructure to succeed research and development linked with its AOC platform, and also for working towards the purpose of building a general and capital corporation. J.P. Morgan, TD Cowen, Leerink Partners and Cantor, and Wells Fargo Securities were the bookrunning managers of this offering.

Closing of the Public Offering of Common Stock and More, in Detail

The securities mentioned above were provided by Avidity pursuant to a shelf registration statement that came into operation automatically on filing with the Securities and Exchange Commission (SEC). A final prospectus supplement and the supporting prospectus regarding this offering are filed with the SEC. The offering's intention was based on the means of a prospectus supplement and a prospectus that built a part of the registration statement.

The copies of the final prospectus supplement and the navigated prospectus regarding this offering will be receivable from Leerink Partners LLC, at the syndicate department, 53 State Street, 40th floor, Boston, MA 02109; Morgan Securities LLC at Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717. The TD securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017; cantor fitzgerald & co. At Capital Markets,110 East 59th Street, 6th floor, New York 10022, or Wells Fargo Securities, LLC at 90 South 7th Street, 5th floor, Minneapolis, MN 55402. The electronic copies of the accompanying prospectus and final prospectus supplement are available on the website of the SEC at http://www.sec.gov. Other contact details are mentioned on below reference website below for communication purposes.