Amylyx Pharmaceuticals Announces Pricing of Upsized Public Offering of Common Stock

Rhea-AI Summary

Amylyx Pharmaceuticals has announced an upsized public offering of 6,693,750 shares of common stock, priced at $32.00 per share, expected to generate gross proceeds of $214.2 million. The offering is set to close around October 11, 2022, pending customary conditions. The company has granted underwriters a 30-day option for an additional 1,004,062 shares. Goldman Sachs, BofA Securities, SVB Securities, and Evercore ISI are the joint book-running managers of the offering. Registration statements became effective on October 6, 2022.

Positive

• Offering of 6,693,750 shares at $32.00 each, targeting $214.2 million in gross proceeds to support operations.
• Potential to attract investors due to the underwriters' reputable involvement.

Negative

• Dilution of existing shareholders' equity due to the increase in shares outstanding.
• Market risk associated with the offering's completion and potential fluctuations in stock price post-offering.

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Amylyx Pharmaceuticals, Inc. (“Amylyx”) today announced the pricing of an upsized underwritten public offering of 6,693,750 shares of its common stock at a public offering price of $32.00 per share.

All of the shares of common stock are being offered by Amylyx. Amylyx has granted the underwriters a 30-day option to purchase up to an additional 1,004,062 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds to Amylyx from this offering are expected to be $214.2 million, before deducting underwriting discounts and commissions and offering expenses and excluding any exercise of the underwriters' option to purchase additional shares. The offering is expected to close on or about October 11, 2022, subject to the satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC, BofA Securities, SVB Securities, and Evercore ISI are acting as joint book-running managers for the offering. H.C. Wainwright & Co. is acting as lead manager for the offering.

Registration statements on Form S-1 relating to these securities became effective on October 6, 2022. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering, may be obtained, when available, 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, 40^th 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.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements”, including with respect to the offering. No assurance can be given that the offering discussed above will be completed. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Any forward-looking statements in this statement are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Risks that contribute to the uncertain nature of the forward-looking statements include those risks and uncertainties set forth in Amylyx’ registration statement on Form S-1 filed with the United States Securities and Exchange Commission and the preliminary prospectus included therein. Copies of the registration statement can be accessed by visiting the Securities and Exchange Commission website at www.sec.gov. All forward-looking statements contained in this press release speak only as of the date on which they were made. Amylyx undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221006006078/en/

Media

Becky Gohsler

Finn Partners

(646) 307-6307

amylyxmediateam@amylyx.com

Investors

Lindsey Allen

Amylyx Pharmaceuticals, Inc.

(857) 320-6244

Investors@amylyx.com

Source: Amylyx Pharmaceuticals, Inc.

FAQ

What is the price of the public offering by Amylyx Pharmaceuticals (AMLX)?

The public offering price is $32.00 per share.

How much is Amylyx Pharmaceuticals aiming to raise in its public offering?

Amylyx Pharmaceuticals expects to raise gross proceeds of $214.2 million.

When is the expected closing date for Amylyx Pharmaceuticals' stock offering?

The offering is expected to close on or about October 11, 2022.

Who are the underwriters for Amylyx Pharmaceuticals' public offering?

The underwriters include Goldman Sachs, BofA Securities, SVB Securities, and Evercore ISI.

What are the potential risks associated with Amylyx Pharmaceuticals' public offering?

Potential risks include dilution for existing shareholders and uncertainties regarding the successful completion of the offering.