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WVE.US
id: 509, Created by Stan Vick, Scout

WVE Questionable $70M Offering on behalf of RA Capital Case

On June 14, 2022, Wave Life Sciences (NASDAQ: WVE) announced a $70 million offering at a price of $2.15/share and to RA Capital Management, in lieu of ordinary shares, pre-funded warrants to purchase up to 7.09M shares.

Despite the offering's price represented a premium of 7.5% over the closing price on June 13, 2022, it was almost 2 times lower than average (~$4) for the preceding 12 months.

Earlier, on May 12, 2022, Wave stated in its Q1 2022 report that it expects that its existing cash, cash equivalents, and short-term investments will enable the Company to fund its operating and capital expenditure requirements into the second quarter of 2023.

Comparing the official Company's financial representations and further actual steps, Investors have all reasons to suspect the Company's management of gross violations, including financial misrepresentations, breach of fiduciary duties to shareholders, probably malpractice, and conspiracy.
Alleged Offence
Mismanagement
Misleading Statements
Financial Misrepresentation
Fraud
Failure to Disclose
Price manipulation
Insider Trading
Malpractice
Negligence
Breach of Fiduciary duty
Omissions
Suspected Party
Directors
Management
Shareholder
Investment Bank
Service Provider
Hedge Fund
Security Type
Stocks
Trade Direction
Long
Shock Event Date
14 June 2022
Collecting participants…
Created by Stan Vick, Scout

Wave Life Sciences Ltd

Wave Life Sciences Ltd., a clinical-stage genetic medicine company, designs, optimizes, and produces novel stereopure oligonucleotides through PRISM, a discovery and drug developing platform. It is...

    Ticker
    WVE.US
    ISIN
    USY953081053
    CIK
    1631574
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    Marina One East Tower, Singapore, Singapore, 018936