Biomea Announces Pricing of Initial Public Offering

Rhea-AI Summary

Biomea Fusion, Inc. (Nasdaq: BMEA) has priced its initial public offering (IPO) at $17.00 per share, offering 9,000,000 shares for a total of approximately $153.0 million in gross proceeds. The IPO will begin trading on the Nasdaq Global Select Market on April 16, 2021, and is set to close on April 20, 2021, pending customary conditions. Additionally, underwriters have a 30-day option to purchase up to 1,350,000 additional shares at the offering price. J.P. Morgan, Jefferies, and Piper Sandler are the joint book-running managers for the offering.

Positive

• Initial public offering priced at $17.00 per share, signaling strong market interest.
• Gross proceeds expected to reach approximately $153.0 million, providing substantial funding for development.

Negative

• Shareholder dilution risk associated with the potential additional share purchase option.

REDWOOD CITY, Calif., April 15, 2021 (GLOBE NEWSWIRE) -- Biomea Fusion, Inc. (“Biomea”) (Nasdaq: BMEA), a preclinical-stage biopharmaceutical company focused on the discovery, development and commercialization of irreversible small molecules to treat patients with genetically defined cancers, today announced the pricing of its initial public offering of 9,000,000 shares of its common stock at a public offering price of $17.00 per share. All of the shares of common stock are being offered by Biomea. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Biomea, are expected to be $153.0 million. Biomea’s common stock is expected to begin trading on The Nasdaq Global Select Market on April 16, 2021, under the ticker symbol “BMEA.” The offering is expected to close on April 20, 2021, subject to satisfaction of customary closing conditions. In addition, Biomea has granted the underwriters a 30-day option to purchase up to an additional 1,350,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

J.P. Morgan Securities LLC, Jefferies LLC and Piper Sandler & Co. are acting as joint book-running managers for the offering.

Registration statements relating to the securities has been filed with the Securities and Exchange Commission and was declared effective on April 15, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained from, when available from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; or Piper Sandler & Co., 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Attn: Prospectus Department, by telephone at (800) 747-3924, or by email at prospectus@psc.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.

Contact:
Liz Melone
lm@biomeafusion.com

FAQ

What is the price of Biomea's initial public offering?

The initial public offering of Biomea Fusion is priced at $17.00 per share.

How many shares are being offered in Biomea's IPO?

Biomea is offering 9,000,000 shares in its initial public offering.

What are the expected gross proceeds from Biomea's IPO?

The expected gross proceeds from Biomea's IPO are approximately $153.0 million.

When will Biomea's common stock start trading?

Biomea's common stock is expected to begin trading on April 16, 2021.

What is the ticker symbol for Biomea Fusion?

The ticker symbol for Biomea Fusion is BMEA.

When is the expected closing date for Biomea's IPO?

The expected closing date for Biomea's IPO is April 20, 2021.