Why Is CRSP Stock Falling Pre-Market Today?
Synopsis
The company plans to issue $350 million in convertible senior notes that are scheduled to mature in 2031.
CRISPR Therapeutics AG (CRSP) on Tuesday announced plans to raise capital through a private debt offering as the gene-editing biotechnology company continues funding research and development efforts.
The company said it intends to issue $350 million in convertible senior notes, scheduled to mature in 2031, subject to prevailing market conditions and investor demand.
According to the company, the debt securities will rank as senior unsecured obligations.
CRISPR Therapeutics stock traded over 6% lower in Tuesday’s premarket.
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