Relay Therapeutics Announces Proposed Public Offering of Common Stock
Relay Therapeutics (Nasdaq: RLAY), a clinical-stage precision medicine company, has announced a proposed public offering of $200 million of common stock shares. The company plans to grant underwriters a 30-day option to purchase up to an additional 15% of the offered shares. Goldman Sachs & Co. , TD Cowen, Stifel, and BofA Securities are acting as joint book-running managers, with Raymond James as co-manager. The offering is subject to market conditions, and its completion is not guaranteed. Shares will be offered through an effective shelf registration statement previously filed with the SEC. A preliminary prospectus supplement and accompanying prospectus will be filed and made available to potential investors.
Relay Therapeutics (Nasdaq: RLAY), un'azienda di medicina di precisione in fase clinica, ha annunciato un'offerta pubblica proposta di 200 milioni di dollari di azioni ordinarie. L'azienda prevede di concedere agli underwriter un'opzione di 30 giorni per acquistare fino al 15% aggiuntivo delle azioni offerte. Goldman Sachs & Co., TD Cowen, Stifel e BofA Securities agiscono come gestori principali associati, con Raymond James come co-gestore. L'offerta è soggetta alle condizioni di mercato e il suo completamento non è garantito. Le azioni saranno offerte tramite una dichiarazione di registrazione a scaffale efficace precedentemente depositata presso la SEC. Un supplemento prospetto preliminare e il prospetto associato saranno depositati e resi disponibili per potenziali investitori.
Relay Therapeutics (Nasdaq: RLAY), una compañía de medicina de precisión en etapa clínica, ha anunciado una oferta pública propuesta de 200 millones de dólares en acciones comunes. La compañía planea otorgar a los suscriptores una opción de 30 días para comprar hasta un 15% adicional de las acciones ofrecidas. Goldman Sachs & Co., TD Cowen, Stifel y BofA Securities actúan como gestores principales conjuntos, con Raymond James como co-gestor. La oferta está sujeta a las condiciones del mercado, y su finalización no está garantizada. Las acciones se ofrecerán a través de una declaración de registro efectuada previamente ante la SEC. Se presentará un suplemento de prospecto preliminar y el prospecto correspondiente estará disponible para los posibles inversores.
릴레이 테라퓨틱스(Relay Therapeutics, Nasdaq: RLAY)는 임상 단계의 정밀 의학 회사로, 2억 달러 규모의 보통주 공모를 제안했다고 발표했습니다. 이 회사는 인수인에게 제공되는 주식의 최대 15%를 추가로 구매할 수 있는 30일 옵션을 부여할 계획입니다. 골드만 삭스 & 컴퍼니, TD 카우엔, 스티펠, 그리고 BofA 증권은 공동 북런닝 매니저로 활동하며, 레이몬드 제임스가 공동 매니저로 참가합니다. 이 오퍼링은 시장 조건에 따라 달라지며, 완료가 보장되지 않습니다. 주식은 SEC에 이전에 제출된 유효한 선 등록 성명을 통해 제공됩니다. 잠정 투자 설명서와 관련된 투자 설명서가 제출되고 잠재 투자자에게 제공될 것입니다.
Relay Therapeutics (Nasdaq: RLAY), une société de médecine de précision en phase clinique, a annoncé une offre publique proposée de 200 millions de dollars d'actions ordinaires. La société prévoit d'accorder aux souscripteurs une option de 30 jours pour acheter jusqu'à 15 % supplémentaires des actions proposées. Goldman Sachs & Co., TD Cowen, Stifel et BofA Securities agissent en tant que gestionnaires principaux conjoints, avec Raymond James en tant que co-gestionnaire. L'offre est soumise aux conditions du marché et son achèvement n'est pas garanti. Les actions seront proposées par le biais d'une déclaration d'enregistrement à effet préalable déposée auprès de la SEC. Un supplément de prospectus préliminaire et le prospectus accompagnant seront déposés et rendus disponibles pour les investisseurs potentiels.
Relay Therapeutics (Nasdaq: RLAY), ein Unternehmen für präzisionsmedizin in der klinischen Phase, hat ein vorgeschlagenes öffentliches Angebot von 200 Millionen Dollar für Stammaktien angekündigt. Das Unternehmen plant, den Underwritern eine 30-tägige Option einzuräumen, um bis zu 15 % der angebotenen Aktien zusätzlich zu erwerben. Goldman Sachs & Co., TD Cowen, Stifel und BofA Securities fungieren als gemeinsame Buchführer und Raymond James als Co-Manager. Das Angebot unterliegt den Marktbedingungen und der Abschluss ist nicht garantiert. Die Aktien werden über eine zuvor bei der SEC eingereichte effektive Shelf-Registrierungserklärung angeboten. Ein vorläufiger Prospektzusatz und der dazugehörige Prospekt werden eingereicht und potenziellen Anlegern zur Verfügung gestellt.
- Potential to raise $200 million in capital through the public offering
- Option for underwriters to purchase additional 15% of shares, potentially increasing capital raised
- Involvement of reputable financial institutions as joint book-running managers
- Potential dilution of existing shareholders' ownership
- Uncertainty regarding the completion and final terms of the offering
- Market conditions may affect the success and pricing of the offering
Insights
Relay Therapeutics' proposed
The involvement of major underwriters like Goldman Sachs and BofA Securities lends credibility to the offering, potentially attracting institutional investors. This could improve liquidity and trading volume for RLAY stock. Investors should closely monitor the pricing and demand for this offering, as it may indicate market sentiment towards Relay's future prospects in the competitive precision medicine landscape.
This public offering signals Relay Therapeutics' need for substantial capital to advance its pipeline of precision medicines. As a clinical-stage company, Relay is likely burning through cash to fund its innovative computational and experimental drug discovery platform. The
Investors should consider the potential impact on Relay's cash burn rate and how long this infusion might sustain operations. It's important to evaluate the progress of Relay's lead candidates and the potential market opportunity for their precision medicine approach. While the offering may pressure the stock in the short term, it could position Relay for long-term success if their platform yields promising clinical results.
The timing of Relay Therapeutics' offering is intriguing, coming amidst a challenging market for biotech stocks. This move suggests confidence in their pipeline and technology platform, but also reflects the ongoing need for capital in the sector. Investors should consider how this offering compares to recent trends in biotech financing and whether it indicates a potential thawing of the IPO and follow-on offering market.
The shelf registration approach allows Relay flexibility in timing and sizing the offering based on market conditions. This could be advantageous if executed well. However, the success of this offering may hinge on Relay's ability to articulate a compelling investment thesis around their computational drug discovery approach and near-term catalysts. Monitoring investor reception to this offering could provide insights into broader market sentiment towards innovative, early-stage biotech companies.
CAMBRIDGE, Mass., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (Nasdaq: RLAY), a clinical-stage precision medicine company transforming the drug discovery process by combining leading-edge computational and experimental technologies, announced today that it has commenced an underwritten public offering of
Goldman Sachs & Co. LLC, TD Cowen, Stifel and BofA Securities are acting as joint book-running managers for the proposed offering. Raymond James is acting as co-manager. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The shares of common stock are being offered by Relay Therapeutics pursuant to an effective shelf registration statement that was previously filed with the U.S. Securities and Exchange Commission (SEC). A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and may be obtained, when available, from: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by email at Prospectus-ny@ny.email.gs.com; TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (855) 495-9846 or by email at TD.ECM_Prospectus@tdsecurities.com; Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, by telephone at 415-364-2720 or by email at syndprospectus@stifel.com; 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; or by accessing the SEC’s website at www.sec.gov.
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 Relay Therapeutics
Relay Therapeutics is a clinical-stage precision medicine company transforming the drug discovery process by combining leading-edge computational and experimental technologies with the goal of bringing life-changing therapies to patients. As the first of a new breed of biotech created at the intersection of complementary techniques and technologies, Relay Therapeutics aims to push the boundaries of what’s possible in drug discovery. Its Dynamo® platform integrates an array of leading-edge computational and experimental approaches designed to drug protein targets that have previously been intractable or inadequately addressed. Relay Therapeutics’ initial focus is on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications.
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, including, without limitation, statements regarding Relay Therapeutics’ anticipated public offering. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.
Any forward-looking statements in this press release, such as the intended offering terms, are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all. These and other risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in Relay Therapeutics’ most recent annual report on Form 10-K and quarterly report on Form 10-Q filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Relay Therapeutics’ other filings with the SEC, including those contained or incorporated by reference in the preliminary prospectus supplement and accompanying prospectus related to the proposed public offering to be filed with the SEC. Any forward-looking statements contained in this press release represent Relay Therapeutics’ views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Relay Therapeutics explicitly disclaims any obligation to update any forward-looking statements, except as required by law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.
Contact:
Megan Goulart
617-545-5526
mgoulart@relaytx.com
Media:
Dan Budwick
1AB
973-271-6085
dan@1abmedia.com
FAQ
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