LONDON and REDWOOD CITY, Calif., Feb. 12, 2021 (GLOBE NEWSWIRE) -- Mereo BioPharma Group plc (NASDAQ: MREO) (“Mereo” or the “Company”), a clinical-stage biopharmaceutical company focused on oncology and rare diseases, announced the closing of its previously announced underwritten public offering of 39,675,000 American Depositary Shares (“ADSs”), at a public offering price of $2.90 per ADS, which includes 5,175,000 additional ADSs issued upon the exercise in full of the underwriters’ option to purchase additional ADSs. Each ADS represents five ordinary shares of Mereo. The aggregate gross proceeds to Mereo from the offering, before deducting underwriting discounts and commissions and offering expenses were $115.1 million. All of the ADSs in the offering were sold by Mereo.

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Mereo BioPharma Group plc Announces Closing of Public Offering of American Depositary Shares and Full Exercise of Underwriters’ Option to Purchase...