Cullinan Management Announces Pricing of Upsized Initial Public Offering (CORRECTION)
Cullinan Management has announced the pricing of its upsized initial public offering (IPO) of 11,900,000 shares at $21.00 per share, aiming to raise approximately $249.9 million before expenses. The underwriters also have a 30-day option to purchase an additional 1,785,000 shares. Shares will begin trading on the Nasdaq Global Select Market under the symbol “CGEM” on January 8, 2021, with the offering expected to close on January 12, 2021. Morgan Stanley, SVB Leerink, and Evercore Group are joint book-running managers for the offering.
- The IPO aims to raise approximately $249.9 million, providing significant funds for business expansion.
- The company is set to trade on the Nasdaq, enhancing visibility and credibility in the market.
- The upsized offering may lead to potential dilution of existing shares.
CAMBRIDGE, Mass., Jan. 07, 2021 (GLOBE NEWSWIRE) -- Please note that the embedded hyperlinks in the press release below have been corrected from a release issued under the same headline earlier today.
Cullinan Management, Inc., a biopharmaceutical company focused on developing a diversified pipeline of targeted oncology and immuno-oncology therapies with transformative potential for cancer patients, announced today the pricing of its upsized initial public offering of 11,900,000 shares of common stock at a price to the public of
Morgan Stanley & Co. LLC, SVB Leerink LLC, and Evercore Group LLC are acting as joint book-running managers for the offering. H.C. Wainwright & Co., LLC is acting as lead manager for the offering.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on January 7, 2021. The offering is being made only by means of a written prospectus. Copies of the final prospectus relating to the initial public offering can be obtained, when available, from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6132, or by email at syndicate@svbleerink.com; and Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, or by telephone at (888) 474 0200, or by email at ecm.prospectus@evercore.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 Cullinan Management
Cullinan Management is a biopharmaceutical company focused on developing a diversified pipeline of targeted oncology and immuno-oncology therapies with transformative potential for cancer patients. The Company’s strategy is to build a pipeline of therapeutic candidates that are uncorrelated across multiple dimensions, with a focus on assets that it believes have novel technology, employ differentiated mechanisms, are in a more advanced stage of development than competing candidates, or have a combination of these attributes.
Contacts:
Investor Relations
investors@cullinanoncology.com
Jeff Trigilio
+1 716.725.5019
jtrigilio@cullinanoncology.com
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