Nuvalent Announces Public Offering of Common Stock
Nuvalent (Nasdaq: NUVL), a clinical-stage biopharmaceutical company, has announced a $350 million public offering of Class A common stock. The company is offering all shares and plans to grant underwriters a 30-day option to purchase up to an additional 15% of shares. J.P. Morgan, TD Cowen, Jefferies, and Stifel are acting as joint book-running managers for the offering.
The offering is being made through an automatically effective shelf registration statement filed with the SEC. A preliminary prospectus supplement will be filed, detailing the terms of the offering. The completion, size, and terms of the offering are subject to market conditions and cannot be guaranteed.
Nuvalent (Nasdaq: NUVL), un'azienda farmaceutica in fase clinica, ha annunciato un offerta pubblica di 350 milioni di dollari per azioni ordinarie di Classe A. L'azienda sta offrendo tutte le azioni e prevede di concedere agli underwriter un'opzione di acquisto per ulteriori 15% delle azioni entro 30 giorni. J.P. Morgan, TD Cowen, Jefferies e Stifel stanno agendo come manager congiunti per l'offerta.
L'offerta viene effettuata tramite una dichiarazione di registrazione a scaffale automaticamente efficace, depositata presso la SEC. Sarà presentato un supplemento al prospetto preliminare che dettaglierà i termini dell'offerta. Il completamento, la dimensione e i termini dell'offerta sono soggetti a condizioni di mercato e non possono essere garantiti.
Nuvalent (Nasdaq: NUVL), una compañía biofarmacéutica en etapa clínica, ha anunciado una oferta pública de 350 millones de dólares de acciones ordinarias Clase A. La compañía está ofreciendo todas las acciones y planea otorgar a los suscriptores una opción de 30 días para comprar hasta un 15% adicional de las acciones. J.P. Morgan, TD Cowen, Jefferies y Stifel actuarán como gerentes conjuntos de la oferta.
La oferta se realiza a través de una declaración de registro a estante automáticamente efectiva presentada ante la SEC. Se presentará un suplemento al prospecto preliminar que detallará los términos de la oferta. La finalización, el tamaño y los términos de la oferta están sujetos a las condiciones del mercado y no se pueden garantizar.
누발렌트(Nasdaq: NUVL)는 임상 단계의 생명공학 회사로, 3억 5천만 달러 규모의 공모를 Class A 보통주를 대상으로 발표했습니다. 회사는 모든 주식을 제공하며, 언더라이터에게 추가로 15%의 주식을 구매할 수 있는 30일 옵션을 부여할 계획입니다. J.P. Morgan, TD Cowen, Jefferies 및 Stifel이 이번 공모의 공동 주관 관리자 역할을 하고 있습니다.
이번 공모는 SEC에 제출된 자동으로 유효한 선반 등록 성명을 통해 진행되고 있습니다. 공모의 조건을 상세히 설명하는 예비 투자설명서 보충서가 제출될 예정입니다. 공모의 완료, 규모 및 조건은 시장 상황에 따라 달라질 수 있으며 보장할 수 없습니다.
Nuvalent (Nasdaq: NUVL), une entreprise biopharmaceutique en phase clinique, a annoncé une offre publique de 350 millions de dollars d'actions ordinaires de classe A. L'entreprise propose toutes les actions et prévoit d'accorder aux souscripteurs une option d'achat de 30 jours pour acquérir jusqu'à 15 % d'actions supplémentaires. J.P. Morgan, TD Cowen, Jefferies et Stifel agissent en tant que directeurs de livre conjoints pour cette offre.
L'offre est réalisée par l'intermédiaire d'une déclaration d'enregistrement à étagère automatiquement efficace déposée auprès de la SEC. Un supplément de prospectus préliminaire sera déposé, détaillant les conditions de l'offre. L'achèvement, la taille et les termes de l'offre sont soumis aux conditions du marché et ne peuvent être garantis.
Nuvalent (Nasdaq: NUVL), ein biopharmazeutisches Unternehmen in der klinischen Phase, hat ein öffentliches Angebot über 350 Millionen US-Dollar für Aktien der Klasse A bekannt gegeben. Das Unternehmen bietet alle Aktien an und plant, den Underwritern eine 30-tägige Option einzuräumen, um bis zu 15% zusätzliche Aktien zu kaufen. J.P. Morgan, TD Cowen, Jefferies und Stifel fungieren als gemeinsame Buchlaufmanager für das Angebot.
Das Angebot wird durch eine automatisch wirksame Shelf-Registrierungserklärung bei der SEC vorgenommen. Ein vorläufiger Prospektzusatz wird eingereicht, der die Bedingungen des Angebots detailliert. Der Abschluss, die Größe und die Bedingungen des Angebots unterliegen den Marktbedingungen und können nicht garantiert werden.
- Potential to raise $350 million in capital
- Opportunity for additional 15% share purchase by underwriters
- Support from major financial institutions as book-running managers
- Potential dilution of existing shareholders' stock value
- Uncertainty regarding the final terms and completion of the offering
- Market conditions may affect the success of the offering
Insights
Nuvalent's $350 million public offering of Class A common stock is a significant move that could substantially impact the company's financial position. This capital raise suggests confidence in their pipeline and potential for growth. However, investors should note that this will likely lead to dilution of existing shareholders' stakes.
The involvement of major underwriters like J.P. Morgan, TD Cowen, Jefferies and Stifel lends credibility to the offering. The additional 15% option for underwriters could potentially increase the total raised to
This offering signals Nuvalent's strategic move to bolster its financial resources for advancing its pipeline of precisely targeted cancer therapies. As a clinical-stage biopharmaceutical company, Nuvalent's focus on kinase targets is particularly relevant in the current oncology landscape. The substantial size of this offering suggests ambitious plans for clinical trial expansion or acceleration.
Investors should consider how this capital injection might impact Nuvalent's burn rate and runway. While it provides financial flexibility, it's important to monitor how effectively the company deploys these funds in progressing its clinical programs and potentially expanding its pipeline. The market's reception to this offering could also indicate investor confidence in Nuvalent's approach to targeted cancer therapies.
J.P. Morgan, TD Cowen, Jefferies and Stifel are acting as joint book-running managers for the offering.
The shares are being offered by Nuvalent pursuant to an automatically effective shelf registration statement that was filed with the Securities and Exchange Commission ("SEC") on March 16, 2023. The offering is being made only by means of a prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and, when filed, may be obtained for free by visiting the SEC's website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus can be obtained, when available, from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
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 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.
About Nuvalent
Nuvalent, Inc. (Nasdaq: NUVL) is a clinical-stage biopharmaceutical company focused on creating precisely targeted therapies for patients with cancer, designed to overcome the limitations of existing therapies for clinically proven kinase targets. Leveraging deep expertise in chemistry and structure-based drug design, we develop innovative small molecules that have the potential to overcome resistance, minimize adverse events, address brain metastases, and drive more durable responses. Nuvalent is advancing a robust pipeline with investigational candidates for ROS1-positive, ALK-positive, and HER2-altered non-small cell lung cancer, and multiple discovery-stage research programs.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that involve substantial risks and uncertainties. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," "contemplate," "seek," "look forward," "advance," "goal," "strategy," "promising," "opportunity," or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among others, statements relating to the expected size of the public offering and the grant to the underwriters of an option to purchase additional shares. Actual results may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include, without limitation, risks and uncertainties related to market conditions that may affect the timing, terms and conditions of the offering and the satisfaction of closing conditions related to the offering. There can be no assurance that Nuvalent will be able to complete the offering on the anticipated terms, or at all. You should not place undue reliance on these forward-looking statements. Additional risks and uncertainties relating to the offering, Nuvalent and its business can be found under the caption "Risk Factors" included in Nuvalent's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2024, Nuvalent's preliminary prospectus supplement to be filed with the SEC and other filings that Nuvalent may make with the SEC in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and Nuvalent expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Nuvalent, Inc.
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