Bolt Biotherapeutics Announces Closing of Initial Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

Bolt Biotherapeutics, Inc. (Nasdaq: BOLT) has successfully closed its initial public offering, selling 13,225,000 shares at $20.00 each. This includes the full exercise of the underwriters' option for an additional 1,725,000 shares. The company specializes in developing immune-oncology therapies, particularly its lead candidate BDC-1001, aimed at HER2-expressing solid tumors. The offering was managed by Morgan Stanley, SVB Leerink, Stifel, and Guggenheim Securities.

Positive

• Raised $264.5 million through IPO.
• Increased visibility and access to capital markets.

Negative

• Potential dilution of existing shares due to the new offering.

REDWOOD CITY, Calif., Feb. 09, 2021 (GLOBE NEWSWIRE) -- Bolt Biotherapeutics, Inc. (Nasdaq: BOLT), a clinical-stage immuno-oncology company, announced today the closing of its initial public offering of 13,225,000 shares of its common stock, inclusive of the full exercise by the underwriters of their option to purchase 1,725,000 shares of common stock, at a price to the public of $20.00 per share. The shares are listed for trading on The Nasdaq Global Select Market under the ticker symbol “BOLT”.

Morgan Stanley, SVB Leerink, Stifel and Guggenheim Securities acted as joint bookrunners for the offering.

The offering was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.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.

Registration statements relating to these securities have been filed with, and declared effective by, the Securities and Exchange Commission. 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 Bolt Biotherapeutics, Inc.

Bolt Biotherapeutics, Inc. (“Bolt”) is a clinical-stage immuno-oncology company developing tumor-targeted therapies that leverage the power of the innate and adaptive immune systems. Bolt’s proprietary Boltbody™ Immune-stimulating Antibody Conjugates (ISACs) approach uses immunostimulants to engage and activate myeloid cells that directly kill tumor cells. This leads to the conversion of immunologically “cold” tumors to “hot” tumors. Bolt’s lead candidate, BDC-1001, is a Boltbody ISAC comprised of a HER2-targeting biosimilar of trastuzumab conjugated to one of Bolt’s proprietary TLR7/8 agonists for the treatment of patients with HER2-expressing solid tumors. Bolt is also advancing additional Boltbody ISAC product candidates targeting CEA and PD-L1.

Media Contacts:
Maggie Beller or David Schull
Russo Partners, LLC
646-942-5631
maggie.beller@russopartnersllc.com
david.schull@russopartnersllc.com

Investor Relations Contact:
Sarah McCabe
Stern Investor Relations, Inc.
212-362-1200
sarah.mccabe@sternir.com

FAQ

What was the stock price for Bolt Biotherapeutics' IPO?

The IPO price for Bolt Biotherapeutics was $20.00 per share.

How many shares were offered by Bolt Biotherapeutics in their IPO?

Bolt Biotherapeutics offered a total of 13,225,000 shares in its IPO.

Who were the underwriters for Bolt Biotherapeutics' IPO?

The underwriters for Bolt Biotherapeutics' IPO included Morgan Stanley, SVB Leerink, Stifel, and Guggenheim Securities.

What is Bolt Biotherapeutics known for?

Bolt Biotherapeutics is known for developing tumor-targeted therapies in the immuno-oncology space.