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Arix Bioscience says portfolio company LogicBio Therapeutics announces pricing for public offering

Arix Bioscience PLC (LON:ARIX) said that its portfolio company LogicBio Therapeutics, Inc. (NASDAQ: LOGC), has announced the pricing of its underwritten public offering in the US.

Venture capital company Arix said it has agreed to invest $3mln in the offering and retains a stake of 9.4% in LogicBio.

LogicBio will issue 7mln shares of common stock at US$6 each for total gross proceeds of approximately US$42mln, before deducting underwriting discounts and commissions and offering expenses.

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