Metsera Announces Closing of Initial Public Offering and Full Exercise and Closing of Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

Metsera (NASDAQ: MTSR), a clinical-stage biotech company focused on developing next-generation injectable and oral nutrient stimulated hormone (NuSH) analog peptides for obesity treatment, has successfully completed its initial public offering (IPO). The company sold 15,277,778 shares at $18.00 per share, with underwriters exercising their full option to purchase an additional 2,291,666 shares at the same price.

The total gross proceeds from both the initial shares and additional shares amounted to $316.2 million, before deducting underwriting discounts and other expenses. The company's common stock is now trading on the Nasdaq Global Select Market under the ticker symbol 'MTSR'. BofA Securities, Goldman Sachs & Co. , Evercore ISI, Guggenheim Securities, and Cantor served as joint bookrunners for the offering.

Positive

• Successful IPO raising $316.2 million in gross proceeds
• Full exercise of underwriters' option indicating strong demand
• Listing on Nasdaq Global Select Market
• Strong underwriter support from major financial institutions

Negative

• Significant shareholder dilution from large share issuance

Insights

Financial Analyst

The successful completion of Metsera's IPO, raising $316.2 million, marks a substantial entry into the public markets for a clinical-stage biotech company focused on the lucrative obesity treatment sector. The offering's size is particularly noteworthy, as it positions Metsera among the larger biotech IPOs in recent years, providing significant capital runway for their nutrient stimulated hormone (NuSH) analog peptides development program.

The full exercise of the underwriters' option to purchase additional shares at the IPO price demonstrates strong institutional interest and confidence in Metsera's technology platform. The participation of five prominent investment banks as joint bookrunners, including industry leaders BofA Securities and Goldman Sachs, suggests robust long-term support and potential follow-on offering capabilities.

The timing of this IPO is strategic, coinciding with heightened market interest in obesity therapeutics following the success of GLP-1 agonists. The substantial capital raise provides Metsera with an estimated 24-36 months of operational runway, enabling the advancement of their novel injectable and oral peptide candidates through critical clinical development milestones.

The listing on Nasdaq's Global Select Market, which has the highest initial listing standards of any exchange, enhances Metsera's visibility and validates their corporate governance standards. This successful IPO positions Metsera competitively in the rapidly evolving obesity treatment landscape, with sufficient resources to execute their development strategy and potentially capture market share in this multi-billion dollar therapeutic area.

NEW YORK, Feb. 05, 2025 (GLOBE NEWSWIRE) -- Metsera, Inc. (Nasdaq: MTSR) (“Metsera”), a clinical-stage biotechnology company developing next-generation injectable and oral nutrient stimulated hormone (NuSH) analog peptides to treat obesity, overweight and related conditions, announced the closing of its initial public offering of 15,277,778 shares of its common stock, at an initial public offering price of $18.00 per share, on February 3, 2025. In addition, Metsera today announced the exercise in full by the underwriters of their option to purchase 2,291,666 additional shares, at the initial public offering price of $18.00 per share, and the closing of the offering of such additional shares. All of the shares of common stock were offered by Metsera. The aggregate gross proceeds from the offering of the initial shares and the additional shares described above, before deducting underwriting discounts and commissions and other offering expenses, were $316.2 million. Metsera’s common stock is listed on the Nasdaq Global Select Market under the ticker symbol “MTSR.”

BofA Securities, Goldman Sachs & Co. LLC, Evercore ISI, Guggenheim Securities and Cantor acted as joint bookrunners for the offering.

A registration statement on Form S-1 (File No. 333-284225) relating to the offering has been filed with the Securities and Exchange Commission (SEC) and became effective on January 30, 2025. A prospectus relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC's website at www.sec.gov. The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from: BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, or by email at Prospectus-ny@ny.email.gs.com; Evercore Group L.L.C., 55 East 52nd Street, 35th Floor, New York, NY 10055, Attn: Equity Capital Markets, or by email at ecm.prospectus@evercore.com; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com; or Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, NY 10022, or by email at prospectus@cantor.com.

This press release does 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Contact

Vicki Albrecht
Metsera
media@metsera.com

FAQ

How much did Metsera (MTSR) raise in its IPO?

Metsera raised $316.2 million in gross proceeds through its IPO, selling 17,569,444 total shares at $18.00 per share.

What was the IPO price for Metsera (MTSR) shares?

Metsera's IPO shares were priced at $18.00 per share.

When did Metsera (MTSR) complete its IPO?

Metsera completed its initial IPO on February 3, 2025, with the additional shares closing shortly after.

How many additional shares did MTSR's underwriters purchase?

The underwriters exercised their full option to purchase 2,291,666 additional shares at the IPO price of $18.00 per share.

What is Metsera's main business focus?

Metsera is a clinical-stage biotechnology company developing next-generation injectable and oral nutrient stimulated hormone (NuSH) analog peptides to treat obesity, overweight and related conditions.