Legend Biotech (LEGN) Prices $226 Million Public Offering; Stock Drops 5.5%

Legend Biotech (LEGN) priced a public offering of American Depositary Shares (ADSs) and pre-funded warrants on June 18, 2026, aiming to raise approximately $226 million. The company's stock fell 5.5% in pre-market trading following the announcement. The offering includes 7.5 million ADSs priced at $28.50 each and 0.45 million pre-funded warrants at $28.49 per warrant. Underwriters, including BofA Securities, Morgan Stanley, Jefferies, and SVB Leerink, have a 30-day option to purchase an additional 1.19 million ADSs. The offering is expected to close on June 21, 2026.