Generation Bio Announces Closing of Initial Public Offering

Rhea-AI Summary

Generation Bio Co. (Nasdaq: GBIO) has successfully closed its initial public offering, selling 12,105,263 shares at $19.00 each, raising approximately $230 million gross proceeds. This IPO included 1,578,947 shares sold following the underwriters' full exercise of their option for additional shares. Trading under the symbol 'GBIO' began on June 12, 2020. Major underwriters included J.P. Morgan, Jefferies, and Cowen. Generation Bio specializes in innovative genetic medicines, focusing on durable and redosable gene therapies for various diseases.

Positive

• Raised approximately $230 million in gross proceeds from the IPO.
• Increased market presence with shares trading on the Nasdaq.
• Focus on innovative gene therapy solutions targeting rare and prevalent diseases.

Negative

• None.

CAMBRIDGE, Mass., June 16, 2020 (GLOBE NEWSWIRE) -- Generation Bio Co. (Nasdaq: GBIO), an innovative genetic medicines company creating a new class of gene therapy, today announced the closing of its initial public offering of 12,105,263 shares of its common stock at an initial public offering price of $19.00 per share, including 1,578,947 additional shares of common stock issued upon the exercise in full by the underwriters of their option to purchase additional shares. All of the shares in the offering were sold by Generation Bio.

The shares began trading on the Nasdaq Global Select Market on Friday, June 12, 2020 under the ticker symbol “GBIO.” The gross proceeds of the offering, before deducting the underwriting discount and commissions and other offering expenses payable by Generation Bio, were approximately $230 million.

J.P. Morgan, Jefferies, and Cowen acted as joint bookrunning managers for the offering. Wedbush PacGrow acted as lead manager for the offering.

A registration statement relating to the securities being sold in this offering was filed with, and declared effective by, the Securities and Exchange Commission (the “SEC”). Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov. This offering was made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone by calling collect at (212) 834-4533, or by email at prospectus-eq_fi@jpmchase.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; or Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by telephone at (833) 297-2926, or by email at PostSaleManualRequests@broadridge.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.
               
About Generation Bio
Generation Bio is an innovative genetic medicines company focused on creating a new class of gene therapy to provide durable, redosable treatments for patients suffering from both rare and prevalent diseases. The company’s non-viral platform incorporates a proprietary high-capacity DNA construct called closed-ended DNA, or ceDNA; a novel cell-targeted lipid nanoparticle delivery system, or ctLNP; and an established, scalable capsid-free manufacturing process. The company is designing therapies to provide targeted delivery of genetic payloads that include large and multiple genes across a broad array of tissues, and to be redosable for individualized and extended treatment throughout a patient’s life. The platform is designed to expand access to treatments for rare diseases and to address prevalent diseases through efficient, scalable manufacturing.

Contact:

Investors
Monique Allaire
THRUST Strategic Communications
monique@thrustsc.com
+1-617-895-9511

Media
Stephanie Simon
Ten Bridge Communications
stephanie@tenbridgecommunications.com
+1-617-581-9333

FAQ

What was the initial public offering price for Generation Bio (GBIO)?

The initial public offering price for Generation Bio was $19.00 per share.

How much money did Generation Bio raise from its IPO?

Generation Bio raised approximately $230 million in gross proceeds from its IPO.

When did Generation Bio start trading on the Nasdaq?

Generation Bio began trading on the Nasdaq on June 12, 2020.

Who were the underwriters for Generation Bio's IPO?

The underwriters for Generation Bio's IPO included J.P. Morgan, Jefferies, and Cowen.

What is the focus of Generation Bio's business?

Generation Bio focuses on creating innovative genetic medicines, specifically durable and redosable gene therapies.