Applied Molecular Transport Announces Pricing of Public Offering of Common Stock
Applied Molecular Transport (AMTI) has announced a public offering of 2,500,000 shares of its common stock at $42.00 each, aiming to raise approximately $105 million before expenses. The underwriters, including BofA Securities, Jefferies, and SVB Leerink, have a 30-day option to purchase an additional 375,000 shares at the same price. The offering is anticipated to close on April 6, 2021, contingent upon customary closing conditions. The shares are being offered solely by AMTI, and this move is expected to bolster its financial position amid ongoing clinical developments.
- The offering aims to raise $105 million to support ongoing operations.
- Potential for underwriters to purchase an additional 375,000 shares indicates demand and investor interest.
- Dilution risk exists for current shareholders if additional shares are purchased by underwriters.
SOUTH SAN FRANCISCO, Calif., March 31, 2021 (GLOBE NEWSWIRE) -- Applied Molecular Transport Inc. (Nasdaq: AMTI) (AMT), a clinical-stage biopharmaceutical company, today announced the pricing of an underwritten public offering of 2,500,000 shares of its common stock at a public offering price of
BofA Securities, Jefferies, and SVB Leerink are acting as joint book-running managers for the offering.
The registration statement relating to these securities became effective on March 31, 2021. The offering is made only by means of a prospectus, copies of which may be obtained from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388, or by email at prospectus_department@Jefferies.com; or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@svbleerink.com. Copies of the final prospectus, when available, related to the offering will be available at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 Applied Molecular Transport Inc.
Applied Molecular Transport Inc. is a clinical-stage biopharmaceutical company leveraging its proprietary technology platform to design and develop a pipeline of novel oral biologic product candidates to treat autoimmune, inflammatory, metabolic, and other diseases. AMT’s proprietary technology platform allows it to exploit existing natural cellular trafficking pathways to facilitate the active transport of diverse therapeutic modalities across the intestinal epithelium (IE) barrier. Active transport is an efficient mechanism that uses the cell’s own machinery to transport materials across the IE barrier. AMT believes that its ability to exploit this mechanism is a key differentiator of its approach. AMT is developing additional oral biologic product candidates in patient-friendly oral forms that are designed to either target local gastrointestinal tissue or enter systemic circulation to precisely address the relevant biology of a disease.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on AMT’s beliefs and assumptions and on information currently available to it on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause AMT’s actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Such forward-looking statements include, among other things, statements regarding the timing, size and completion of the public offering of common stock. The forward-looking statements contained herein are based upon AMT’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those projected in any forward-looking statements due to numerous risks and uncertainties, including but not limited to risks and uncertainties related to market conditions and satisfaction of customary closing conditions related to the offering, and other risks. These and other risks are described more fully in AMT’s registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (“SEC”) on March 29, 2021 and the prospectus included therein, as well as AMT’s other filings with the SEC from time to time, including its Annual Report on Form 10-K filed with the SEC on March 19, 2021. Except to the extent required by law, AMT undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Investor Relations Contact:
Andrew Chang
Head, Investor Relations & Corporate Communications
achang@appliedmt.com
Media Contacts:
Alexandra Santos
Wheelhouse Life Science Advisors
asantos@wheelhouselsa.com
Aljanae Reynolds
Wheelhouse Life Science Advisors
areynolds@wheelhouselsa.com
FAQ
What is the share price of AMTI's public offering?
How much money does AMTI aim to raise from the offering?
What is the expected closing date of the AMTI offering?
Who are the underwriters for AMTI's offering?
Will AMTI's offering dilute current shareholders?
