PepGen Announces Pricing of Initial Public Offering
PepGen, a clinical-stage biotech firm, has priced its initial public offering (IPO) at $12.00 per share, aiming to raise $108 million through the sale of 9 million shares. An additional 1.35 million shares may be purchased by underwriters over a 30-day period. The shares will trade on the Nasdaq under the symbol 'PEPG' starting May 6, 2022, with the closing date set for May 10, 2022. BofA Securities, SVB Securities, and Stifel are managing the offering, which follows a registration statement that became effective on May 5, 2022.
- PepGen aims to raise $108 million through its IPO to support oligonucleotide therapy advancements.
- The offering involves a significant number of shares (9 million), indicating strong investor interest.
- The offering's dilution effect may impact existing shareholders due to the issuance of new shares.
- Market conditions could affect the success and timing of the IPO.
BOSTON, May 05, 2022 (GLOBE NEWSWIRE) -- PepGen, Inc., a clinical-stage biotechnology company advancing the next generation of oligonucleotide therapies with the goal of transforming the treatment of severe neuromuscular and neurological diseases, today announced the pricing of its initial public offering. The offering consists of 9,000,000 shares of common stock at an initial public offering price of
The shares are expected to begin trading on the Nasdaq Global Select Market on May 6, 2022, under the symbol “PEPG.” The offering is expected to close on May 10, 2022, subject to the satisfaction of customary closing conditions.
BofA Securities, SVB Securities, and Stifel are acting as joint book-running managers for the offering. Wedbush PacGrow is acting as lead-manager for the offering.
A registration statement relating to the offering has been filed with the Securities and Exchange Commission and became effective May 5, 2022. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at 1-800-808-7525, ext. 6105, or by email at syndicate@svbsecurities.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at 415-364-2720 or by email at syndprospectus@stifel.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 PepGen
PepGen, Inc. is a clinical-stage biotechnology company advancing the next-generation of oligonucleotide therapies with the goal of transforming the treatment of severe neuromuscular and neurological diseases. PepGen’s Enhanced Deliver Oligonucleotide, or EDO, platform is founded on over a decade of research and development and leverages cell-penetrating peptides to improve the uptake and activity of conjugated oligonucleotide therapeutics. Using these EDO peptides, we are generating a pipeline of oligonucleotide therapeutic candidates that target the root cause of serious diseases.
Forward-Looking Statements
This press release contains forward-looking statements. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will,” and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, statements regarding completion, timing and anticipated gross proceeds of the initial public offering and the expected commencement of trading of PepGen’s shares on the Nasdaq Global Select Market.
Any forward-looking statements in this press release are based on current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to market conditions and the satisfaction of customary closing conditions related to the initial public offering. Additional risks concerning PepGen’s programs and operations are described in detail in its registration statement on Form S-1, which is on file with the SEC. PepGen explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.
Investor Contact
Laurence Watts or Nick Colangelo
Gilmartin Group
Laurence@gilmartinir.com
Nick@gilmartinir.com
Media Contact
Gwendolyn Schanker
LifeSci Communications
(269) 921-3607
gschanker@lifescicomms.com
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