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Amylyx Pharmaceuticals Announces Closing of Upsized Public Offering of Common Stock and Full Exercise of Underwriters'; Option to Purchase Additional Shares
Amylyx Pharmaceuticals announced the successful completion of its upsized public offering, raising $246.3 million through the sale of 7,697,812 shares at $32.00 each. The offering included the full exercise of an option for an additional 1,004,062 shares. The funds generated will support the company's efforts in developing innovative treatments for the neurodegenerative community. The offering was managed by a consortium of financial firms, including Goldman Sachs and BofA Securities.
Positive
Funds of $246.3 million will support innovative treatment development.
Dilution of existing shareholders due to the increased share count.
CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Amylyx Pharmaceuticals, Inc. (“Amylyx”) today announced the closing of its previously announced upsized underwritten public offering of 7,697,812 shares of its common stock at a public offering price of $32.00 per share, which includes the exercise in full by the underwriters of their option to purchase up to an additional 1,004,062 shares of common stock in the offering. The gross proceeds to Amylyx from the offering were $246.3 million, before deducting underwriting discounts and commissions and estimated offering expenses.
Goldman Sachs & Co. LLC, BofA Securities, SVB Securities, and Evercore ISI acted as joint book-running managers for the offering. H.C. Wainwright & Co. acted as lead manager for the offering.
Registration statements on Form S-1 relating to these securities became effective on October 6, 2022. The offering was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from: Goldman Sachs & Co. LLC, at Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 1-866-471-2526 or by e-mail at prospectus-ny@ny.email.gs.com; BofA Securities, Inc., Attention: Prospectus Department, 200 North College Street, 3rd floor, Charlotte NC 28255-0001 or by email at dg.prospectus_requests@bofa.com; SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at 1-800-808-7525, ext. 6105, or by email at syndicate@svbsecurities.com; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone at 1-888-474-0200, or by email at ecm.prospectus@evercore.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Amylyx Pharmaceuticals
Amylyx Pharmaceuticals, Inc. is committed to supporting and creating more moments for the neurodegenerative community through the discovery and development of innovative new treatments. Amylyx is headquartered in Cambridge, Massachusetts and has operations in Canada and EMEA.
What are the details of Amylyx Pharmaceuticals' recent stock offering?
Amylyx Pharmaceuticals recently completed a public offering of 7,697,812 shares at a price of $32.00 per share, raising gross proceeds of $246.3 million.
How will Amylyx Pharmaceuticals use the proceeds from the stock offering?
The proceeds will be used to support the development of innovative treatments for the neurodegenerative community.
What impact will the stock offering have on existing shareholders of AMLX?
The stock offering may lead to dilution of existing shareholders as more shares are introduced into the market.
Who managed the public offering for Amylyx Pharmaceuticals?
The offering was managed by Goldman Sachs, BofA Securities, SVB Securities, and Evercore ISI.
