IDEAYA Announces Closing of Public Offering Including Full Exercise of Underwriters' Option to Purchase Additional Shares

Rhea-AI Summary

IDEAYA Biosciences, Inc. has closed its underwritten public offering, raising approximately $201 million. The offering consisted of 8,858,121 shares of common stock and pre-funded warrants to purchase 2,020,270 shares of common stock. The underwriters also exercised their option to purchase an additional 1,418,920 shares. J.P. Morgan, Jefferies, and Citigroup acted as joint book-running managers for the offering.

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• IDEAYA Biosciences, Inc. raised approximately $201 million in its underwritten public offering

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• None.

SOUTH SAN FRANCISCO, Calif., April 27, 2023 /PRNewswire/ -- IDEAYA Biosciences, Inc. (Nasdaq:IDYA) today announced the closing of its underwritten public offering of 8,858,121 shares of its common stock at a public offering price of $18.50 per share, before underwriting discounts and commissions, and pre-funded warrants to purchase 2,020,270 shares of common stock at a public offering price of $18.4999 per pre-funded warrant, before underwriting discounts and commissions. This includes the exercise in full by the underwriters of their option to purchase up to an additional 1,418,920 shares of common stock in the offering. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by IDEAYA, were approximately $201 million.

J.P. Morgan, Jefferies, and Citigroup acted as joint book-running managers for the offering. RBC Capital Markets and Oppenheimer & Co. acted as lead managers for the offering.

The public offering was made by IDEAYA pursuant to a shelf registration statement on Form S-3 that was previously filed with and declared effective by the U.S. Securities and Exchange Commission, or the SEC. The offering was made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained by request from: J.P. Morgan, by mail at J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204, or by email at prospectus-eq_fi@jpmorganchase.com; Jefferies, by mail at Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, or by telephone at 877-547-6340 or 877-821-7388, or by email at Prospectus_Department@Jefferies.com; Citigroup, by mail at Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-800-831-9146; RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, 8th Floor, New York, New York 10281, by telephone at (877) 822-4089 or by email at equityprospectus@rbccm.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.

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 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.

About IDEAYA Biosciences

IDEAYA is a precision medicine oncology company committed to the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. IDEAYA's approach integrates capabilities in identifying and validating translational biomarkers with drug discovery to select patient populations most likely to benefit from its targeted therapies. IDEAYA is applying its research and drug discovery capabilities to synthetic lethality – which represents an emerging class of precision medicine targets. 

Investor and Media Contact
IDEAYA Biosciences
Paul Stone
Chief Financial Officer
investor@ideayabio.com

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SOURCE IDEAYA Biosciences, Inc.

FAQ

What is the purpose of IDEAYA Biosciences' public offering?

IDEAYA Biosciences' public offering is aimed at raising funds.

How much money did IDEAYA Biosciences raise in its public offering?

IDEAYA Biosciences raised approximately $201 million in its public offering.

Which companies acted as joint book-running managers for the offering?

J.P. Morgan, Jefferies, and Citigroup acted as joint book-running managers for the offering.