Forma Therapeutics Announces Closing of Public Offering and Exercise in Full of the Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

Forma Therapeutics Holdings, Inc. (Nasdaq: FMTX) has successfully closed an underwritten public offering, issuing 6,095,000 shares of common stock at a price of $45.25 per share. This includes 795,000 shares from underwriters' exercised options, resulting in gross proceeds of approximately $275.8 million before costs. This offering, fully managed by Jefferies, SVB Leerink, and Credit Suisse, underscores the company’s commitment to advancing treatments for rare hematologic diseases and cancers.

Positive

• Gross proceeds of approximately $275.8 million will support the development of therapies for rare hematologic diseases and cancers.

Negative

• Potential dilution of existing shareholders due to the issuance of new shares.

Forma Therapeutics Holdings, Inc. (Nasdaq: FMTX), a clinical-stage biopharmaceutical company focused on rare hematologic diseases and cancers, today announced the closing of an underwritten public offering of 6,095,000 shares of its common stock, including the exercise in full by the underwriters of their option to purchase up to an additional 795,000 shares of common stock, at a public offering price of $45.25 per share. The aggregate gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, were approximately $275.8 million. All of the shares in the offering were offered by Forma.

Jefferies, SVB Leerink and Credit Suisse acted as joint book-running managers for the offering. Oppenheimer & Co acted as lead manager for the offering.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any offer or 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.

Registration statements relating to these securities became effective on December 10, 2020. The offering was made only by means of a prospectus, copies of which may be obtained from: 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; 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; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, by telephone at (800) 221-1037, or by email at usa.prospectus@credit-suisse.com; or Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY, 10004, by telephone at (212) 667-8055, or by email at EquityProspectus@opco.com.

About Forma Therapeutics

Forma Therapeutics is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapeutics to transform the lives of patients with rare hematologic diseases and cancers.

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FAQ

What was the public offering price for Forma Therapeutics (FMTX) shares?

The public offering price for Forma Therapeutics shares was $45.25.

How many shares were offered in the Forma Therapeutics public offering?

Forma Therapeutics offered a total of 6,095,000 shares, including 795,000 shares from the underwriters' exercised options.

What are the gross proceeds from the Forma Therapeutics (FMTX) stock offering?

The gross proceeds from the stock offering are approximately $275.8 million.

Who managed the Forma Therapeutics public stock offering?

Jefferies, SVB Leerink, and Credit Suisse acted as joint book-running managers for the offering.

What is the purpose of the offering by Forma Therapeutics (FMTX)?

The offering is intended to support the development of novel therapeutics for patients with rare hematologic diseases and cancers.