Codiak Announces Proposed Public Offering of Common Stock
Codiak BioSciences (Nasdaq: CDAK) announced an underwritten public offering of 2,500,000 shares of its common stock, with an option for underwriters to purchase an additional 375,000 shares. The offering, subject to market conditions, is intended to raise capital for the clinical-stage development of exosome-based therapeutics. The shares will be sold by Codiak, and the offering is being managed by Goldman Sachs, Evercore ISI, and William Blair. This announcement follows a registration statement filed with the SEC on February 9, 2021, which has yet to be declared effective.
- Public offering size of 2,500,000 shares to raise funds.
- Potential additional shares of 375,000 if underwriters exercise their option.
- Offering may cause shareholder dilution.
- Market conditions may affect the actual size and completion of the offering.
CAMBRIDGE, Mass., Feb. 09, 2021 (GLOBE NEWSWIRE) -- Codiak BioSciences, Inc. (Nasdaq: CDAK) (“Codiak”), a clinical-stage company focused on pioneering the development of exosome-based therapeutics as a new class of medicines, announced today that it has commenced an underwritten public offering of 2,500,000 shares of its common stock. Codiak intends to grant the underwriters a 30-day option to purchase an additional 375,000 shares of its common stock, at the public offering price, less the underwriting discounts and commissions. All the shares to be sold in the proposed offering will be sold by Codiak. The offering is subject to market and other conditions, and there can be no assurances as to whether or when the offering may be completed, or as to the actual size and terms of the offering.
Goldman Sachs & Co. LLC, Evercore ISI and William Blair are acting as joint book-running managers for the offering and as representatives of the underwriters. Wedbush PacGrow is acting as lead manager for the offering.
A registration statement relating to these securities was filed with the Securities and Exchange Commission (“SEC”) on February 9, 2021 but has not yet been declared effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time that the registration statement becomes effective. This offering is being made only by means of a prospectus. Copies of the registration statement and the preliminary prospectus relating to this offering may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting the offices of Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, or by email: prospectus-ny@ny.email.gs.com; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, telephone: (888) 474-0200, or by email: ecm.prospectus@evercore.com; or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, telephone: 1-800-621-0687, or by email: prospectus@williamblair.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 offer or sale of these securities in any state or 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 jurisdiction.
Forward Looking Statements
This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including among other things, statements regarding the anticipated timing, size and completion of the proposed public offering, and other statements identified by words such as “could,” “expects,” “intends,” “may,” “plans,” “potential,” “should,” “will,” “would,” or similar expressions and the negatives of those terms. Forward-looking statements are not promises or guarantees of future performance, and are subject to a variety of risks and uncertainties, many of which are beyond our control. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, market risks and uncertainties and the satisfaction of customary closing conditions for an offering of securities. These and other risks are described under the heading “Risk Factors” in our most recent Quarterly Report on Form 10-Q filed with the SEC and in other filings that Codiak makes with the SEC. Our actual results could differ materially from the results described in or implied by such forward-looking statements. Forward-looking statements speak only as of the date hereof, and, except as required by law, we undertake no obligation to update or revise these forward-looking statements.
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