Yarrow Bioscience is selling 5,769,231 common shares at $26.00 each, with underwriters exercising an option for up to 865,384 more shares. Expected net proceeds of approximately $161.8 million give investors the offering’s stated funding outcome, while director and executive lock-ups restrict certain sales for 60 days.

Key Highlights

  • Underwriters exercised their 30-day option in full on September 11 for up to 865,384 additional common shares.
  • Yarrow Bioscience directors and executive officers agreed to 60-day restrictions on certain stock sales.
  • The offering was expected to close on September 14, after the registration statement became effective on August 19.

Yarrow Bioscience, Inc. (NASDAQ: YARW) is raising approximately $161.8 million in expected net proceeds through a common-stock offering priced at $26.00 per share. The transaction covers 5,769,231 shares, while underwriters exercised a 30-day option in full for up to 865,384 additional shares.

$26 Offering Includes Underwriter Option

The additional-share option was exercised in full on September 11 at the public offering price, less Underwriting discounts and commissions. The offering was expected to close on September 14. Yarrow Bioscience said its registration statement became effective on August 19, while the final prospectus supplement was dated September 10 and filed on September 11. The underwriting agreement includes customary representations, warranties, closing conditions and other obligations for the parties.

60-Day Restrictions Apply to Insider Sales

The company’s directors and executive officers entered into lock-up agreements covering their common stock. Subject to certain exceptions, they agreed not to sell or otherwise dispose of those shares for 60 days after the final prospectus supplement’s date. Rebecca Frey, Yarrow Bioscience’s chief executive officer, signed the company’s report on September 14.