Dyne Therapeutics prices 18.3M-share offering at $20.50, raising $375M gross ($405M net with greenshoe)

Filed July 22, 2026 · ~2 min read

Key Changes

• high

  Dyne priced 18.3M primary shares at $20.50/share, raising $375.1M gross ($405M net if the 15% greenshoe is exercised in full). All proceeds go to the company; there are no selling stockholders.

  The Offering verify on EDGAR →
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  Implied post-offering market cap is $3.8B ($20.50 × 183.8M shares outstanding). New investors face immediate dilution of $13.87/share (offering price vs. $6.63 pro forma net tangible book value).

  Dilution verify on EDGAR →
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  Proceeds will fund development and regulatory pursuit of two lead programs (z-rostudirsen and z-basivarsen), manufacturing for potential commercial launches, commercial infrastructure, R&D for other programs (DMD additional exons, FSHD, Pompe), and FORCE platform development. Combined with existing cash and a $50M June 2026 term loan, the company expects runway into Q2 2028.

  Use of Proceeds verify on EDGAR →