Forma Therapeutics Announces Pricing of Public Offering

Rhea-AI Summary

Forma Therapeutics Holdings, Inc. (Nasdaq: FMTX) has priced an underwritten public offering of 5,300,000 shares at $45.25 each, aiming for gross proceeds of approximately $239.8 million, excluding underwriters' options. The offering is set to close around December 15, 2020. Jefferies, SVB Leerink, and Credit Suisse are managing the offering. This capital raise will support Forma's focus on developing therapies for rare hematologic diseases and cancers. All shares are being offered by the company.

Positive

• Gross proceeds expected to be approximately $239.8 million, enhancing financial capacity.
• Funding aimed at advancing therapies for rare hematologic diseases and cancers.

Negative

• Potential dilution of existing shares due to the public offering.
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WATERTOWN, Mass.--(BUSINESS WIRE)--Forma Therapeutics Holdings, Inc. (Nasdaq: FMTX), a clinical-stage biopharmaceutical company focused on rare hematologic diseases and cancers, today announced the pricing of an underwritten public offering of 5,300,000 shares of its common stock at a public offering price of $45.25 per share. All of the shares of common stock in the offering will be offered by Forma. In addition, Forma has granted the underwriters a 30-day option to purchase up to an additional 795,000 shares of common stock. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $239.8 million, excluding any exercise of the underwriters' option to purchase additional shares. The offering is expected to close on or about December 15, 2020, subject to customary closing conditions.

Jefferies, SVB Leerink and Credit Suisse are acting as joint book-running managers for the offering. Oppenheimer & Co is acting 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 will be 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.

Forward-Looking Statements

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions 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. Forward-looking statements are any statements that express the current beliefs and expectations of management, including but not limited to express or implied statements related to Forma’s ability to complete the offering, the satisfaction of customary closing conditions and the company’s use of proceeds. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, those risks and uncertainties associated with market conditions and the advancement of Forma’s clinical programs and other risks identified in Forma’s SEC filings, including those risks discussed under the heading “Risk Factors” in its Quarterly Report on Form 10-Q, filed on November 12, 2020, as well as the risks identified in the registration statement relating to the offering. Forma cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Forma disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. Moreover, except as required by law, neither Forma nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements included in this press release. Any forward-looking statements contained in this press release represent Forma’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date.