Solid Biosciences Announces Closing of Public Offering and Full Exercise of Over-Allotment Option
Solid Biosciences (Nasdaq: SLDB) announced the closing of an underwritten public offering of 25 million shares of common stock at $5.75 each, generating approximately $143.8 million in gross proceeds. This offering included 3.26 million shares from the underwriters' option to purchase additional shares. Jefferies, SVB Leerink, and Piper Sandler were the joint book-running managers for the offering. The shares were issued under an effective shelf registration statement, filed with the SEC on March 13, 2019, and declared effective on March 19, 2019.
- Raised approximately $143.8 million in gross proceeds from the offering.
- Strengthened financial position to advance Duchenne muscular dystrophy therapies.
- Dilution risk for existing shareholders due to the new share issuance.
CAMBRIDGE, Mass., March 23, 2021 (GLOBE NEWSWIRE) -- Solid Biosciences Inc., (Nasdaq: SLDB) a life sciences company focused on advancing meaningful therapies for Duchenne muscular dystrophy (Duchenne), today announced the closing of its previously announced underwritten public offering of 25,000,000 shares of its common stock at a public offering price of
Jefferies, SVB Leerink and Piper Sandler acted as joint book-running managers for the offering. Chardan acted as lead manager for the offering.
The shares were offered pursuant to an effective shelf registration statement that was filed with the Securities and Exchange Commission (“SEC”) on March 13, 2019, and declared effective by the SEC on March 19, 2019.
This offering was made only by means of a prospectus and prospectus supplement that formed a part of the registration statement. A final prospectus supplement relating to and describing the terms of the offering was filed with the SEC and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus may also be obtained by contacting: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388, or by email at prospectus_department@Jefferies.com; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@svbleerink.com; or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924 or by email at prospectus@psc.com.
This press release shall not constitute an offer to sell, or a 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 Solid Biosciences
Solid Biosciences is a life sciences company focused on advancing transformative treatments to improve the lives of patients living with Duchenne. Disease-focused and founded by a family directly impacted by Duchenne, our mandate is simple yet comprehensive – work to address the disease at its core by correcting the underlying mutation that causes Duchenne with our lead gene therapy candidate, SGT-001.
Investor Contact:
David Carey
FINN Partners
212-867-1768
David.Carey@finnpartners.com
Media Contact:
Erich Sandoval
FINN Partners
917-497-2867
Erich.Sandoval@finnpartners.com
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