Generation Bio Announces Closing of Public Offering

Rhea-AI Summary

Generation Bio Co. (Nasdaq: GBIO) closed its public offering of 9,200,000 shares at $24.50 each, generating approximately $225.4 million gross proceeds. This includes 1,200,000 shares from underwriters' option to purchase more. Joint bookrunning managers for the offering were J.P. Morgan, Jefferies, and Cowen. The funds raised will support the company's innovative gene therapy efforts aimed at treating both rare and prevalent diseases through its proprietary non-viral delivery platform.

Positive

• Raised approximately $225.4 million in gross proceeds from the public offering.
• Funding supports the development of innovative gene therapies for rare and prevalent diseases.

Negative

• Share dilution risk due to the issuance of new shares in the public offering.

CAMBRIDGE, Mass., Jan. 11, 2021 (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 public offering of 9,200,000 shares of its common stock at a public offering price of $24.50 per share, including 1,200,000 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 gross proceeds of the offering, before deducting the underwriting discount and commissions and other offering expenses payable by Generation Bio, were approximately $225.4 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
Maren Killackey
Generation Bio
541-646-2420
mkillackey@generationbio.com

Media
Alicia Webb
Generation Bio
847-254-4275
awebb@generationbio.com

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

FAQ

What was the public offering price for Generation Bio's shares?

Generation Bio's public offering price was $24.50 per share.

How much money did Generation Bio raise in its public offering?

Generation Bio raised approximately $225.4 million in gross proceeds from the offering.

What is Generation Bio's primary focus?

Generation Bio focuses on creating innovative gene therapies for both rare and prevalent diseases.

Who were the underwriters for Generation Bio's public offering?

J.P. Morgan, Jefferies, and Cowen were the joint bookrunning managers for the offering.

What is the potential impact of the public offering on Generation Bio shareholders?

The public offering may cause dilution for existing shareholders due to the issuance of new shares.