Beam Therapeutics Announces Pricing of Public Offering of Common Stock
Beam Therapeutics Inc. (Nasdaq: BEAM) has announced the pricing of its public offering, aiming to sell 5,000,000 shares at $23.50 each. The company expects gross proceeds of approximately $117.5 million, excluding underwriter options for an additional 750,000 shares. This offering is set to close on October 5, 2020, pending customary conditions. J.P. Morgan, Jefferies, and Barclays are the joint book-running managers, with Wedbush PacGrow as the lead manager. The registration statement for the shares was effective as of September 30, 2020.
- Expected gross proceeds of approximately $117.5 million to fund development.
- Potential to exercise an underwriter option for an additional 750,000 shares.
- Dilution risk for existing shareholders due to new share issuance.
CAMBRIDGE, Mass., Sept. 30, 2020 (GLOBE NEWSWIRE) -- Beam Therapeutics Inc. (Nasdaq: BEAM), a biotechnology company developing precision genetic medicines through base editing, today announced the pricing of its public offering of 5,000,000 shares of common stock at a public offering price of
The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Beam Therapeutics, are expected to be approximately
J.P. Morgan, Jefferies and Barclays are acting as joint book-running managers for the offering. Wedbush PacGrow is acting as lead manager for the offering.
A registration statement relating to the shares being sold in this offering became effective by the Securities and Exchange Commission on September 30, 2020. The offering is being made only by means of a prospectus, copies of which may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (866) 803-9204, or by emailing prospectus-eq_fi@jpmchase.com; Jefferies LLC, 520 Madison Avenue, 2nd Floor, New York, NY 10022, Attention: Equity Syndicate Prospectus Department, by telephone at 877-821-7388 or by email at prospectus_department@jefferies.com; or Barclays Capital Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-888-603-5847, or email: Barclaysprospectus@broadridge.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Beam Therapeutics
Beam Therapeutics is a biotechnology company developing precision genetic medicines through the use of base-editing. Beam’s proprietary base editors create precise, predictable and efficient single base changes, at targeted genomic sequences, without making double stranded breaks in the DNA. This enables a wide range of potential therapeutic editing strategies that Beam is using to advance a diversified portfolio of base editing programs. Beam is a values-driven organization committed to its people, cutting-edge science, and a vision of providing life-long cures to patients suffering from serious diseases.
Contacts
Media:
Dan Budwick
1AB
dan@1abmedia.com
Investors:
Monique Allaire
THRUST Strategic Communications
monique@thrustsc.com
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