Prime Medicine

Prime Medicine (PRME) announced a public offering of 38 million shares at $3.30 per share, expecting $125.4 million in gross proceeds. The Cystic Fibrosis Foundation will purchase 1.8 million shares without underwriter commissions. Underwriters have an option to purchase 5.7 million additional shares. The offering, managed by TD Cowen and BMO Capital Markets, is set to close around August 1, 2025. Proceeds will bolster Prime Medicine’s gene therapy pipeline advancement. The offering may cause dilution for existing shareholders.