aTyr Pharma Announces Closing of $86.3 Million Public Offering Including Full Exercise of Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

aTyr Pharma, Inc. (Nasdaq: LIFE) announced the closing of a public offering of 10,781,250 shares at $8.00 each, raising gross proceeds of $86.3 million. This includes the full exercise of the underwriters’ option to purchase additional shares. The offering was managed by Piper Sandler and RBC Capital Markets, among others. The funds raised will support aTyr's ongoing research and development efforts, particularly in innovative medicines involving tRNA synthetases. The press release clarifies that this announcement does not constitute an offer to sell securities.

Positive

• Raised $86.3 million in gross proceeds from the offering.
• Funds will support research and development of innovative medicines.

Negative

• Potential dilution of existing shareholders due to additional shares issued.

SAN DIEGO, Sept. 20, 2021 (GLOBE NEWSWIRE) -- aTyr Pharma, Inc. (Nasdaq: LIFE), a clinical stage biotherapeutics company engaged in the discovery and development of innovative medicines based on novel biological pathways, today announced the closing of an underwritten public offering of 10,781,250 shares of its common stock at a public offering price of $8.00 per share, which included the full exercise of the underwriters’ option to purchase additional shares. The gross proceeds to aTyr from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses, are $86.3 million. All of the shares sold in the offering were sold by aTyr.

Piper Sandler and RBC Capital Markets acted as joint book-running managers for the offering. Laidlaw & Company (UK) Ltd. acted as the lead manager for the offering. Roth Capital Partners LLC acted as financial advisor.

The offering was made pursuant effective registration statements, filed by aTyr with the Securities and Exchange Commission ("SEC"). The offering was made only by means of a written prospectus and prospectus supplement that form a part of the registration statement on Form S-3. An electronic copy of the final prospectus supplement and accompanying prospectus relating to the offering are available on the website of the SEC at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained by contacting Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at (800) 747-3924 or by email at prospectus@psc.com; or RBC Capital Markets, LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, New York 10281, by telephone at (877) 822-4089 or by email at equityprospectus@rbccm.com.

This press release shall not constitute an offer to sell or the 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 aTyr

aTyr is a biotherapeutics company engaged in the discovery and development of innovative medicines based on novel biological pathways. aTyr’s research and development efforts are concentrated on a newly discovered area of biology, the extracellular functionality and signaling pathways of tRNA synthetases. aTyr has built a global intellectual property estate directed to a potential pipeline of protein compositions derived from 20 tRNA synthetase genes and their extracellular targets. aTyr’s primary focus is ATYR1923, a clinical-stage product candidate which binds to the neuropilin-2 receptor and is designed to down-regulate immune engagement in inflammatory lung diseases.

Contact:
Ashlee Dunston
Director, Investor Relations and Corporate Communications
adunston@atyrpharma.com

FAQ

What was the offering price per share for aTyr Pharma on September 20, 2021?

The offering price per share was $8.00.

How many shares did aTyr Pharma issue in its recent public offering?

aTyr Pharma issued 10,781,250 shares.

What are the gross proceeds from aTyr Pharma's recent public offering?

The gross proceeds from the offering were $86.3 million.

Who managed the public offering for aTyr Pharma?

Piper Sandler and RBC Capital Markets acted as joint book-running managers for the offering.

What is aTyr Pharma's primary focus in their research?

aTyr Pharma is focused on developing medicines based on tRNA synthetases, particularly targeting inflammatory lung diseases with its candidate ATYR1923.