Sensei Biotherapeutics Announces Pricing of Upsized Initial Public Offering

Rhea-AI Summary

Sensei Biotherapeutics has announced an upsized initial public offering (IPO) of 7,000,052 shares at $19.00 each, aiming to raise approximately $133 million. The shares will trade on Nasdaq under the ticker symbol SNSE starting February 4, 2021. Underwriters have an option to purchase an additional 1,050,007 shares. The offering is anticipated to close on February 8, 2021, pending market conditions. Sensei is known for its proprietary ImmunoPhage™ platform, which targets cancer and infectious diseases through innovative immunotherapy.

Positive

• Successful IPO pricing at $19.00 per share, raising approximately $133 million.
• Potential for additional funding with a 30-day option for underwriters to purchase more shares.
• The proprietary ImmunoPhage™ platform positions the company for innovative cancer therapies.

Negative

• The IPO may lead to shareholder dilution if the underwriters exercise their option.

BOSTON and ROCKVILLE, Md., Feb. 03, 2021 (GLOBE NEWSWIRE) -- Sensei Biotherapeutics, Inc., a clinical-stage immunotherapy company focused on the discovery and development of next generation therapeutics for cancer, today announced the pricing of its upsized initial public offering of 7,000,052 shares of common stock at a public offering price of $19.00 per share. The gross proceeds to Sensei from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Sensei, are expected to be approximately $133.0 million. All of the shares are being offered by Sensei and are expected to begin trading on The Nasdaq Global Market on February 4, 2021 under the ticker symbol “SNSE.” In addition, Sensei has granted the underwriters a 30-day option to purchase up to an additional 1,050,007 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on February 8, 2021 subject to the satisfaction of customary closing conditions.

Citigroup, Piper Sandler & Co. and Berenberg are acting as joint book-running managers for the offering. Oppenheimer & Co. is acting as the lead manager for the proposed offering. 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.

A registration statement relating to the securities was declared effective by the Securities and Exchange Commission on February 3, 2021. The offering of these securities is being made only by means of a prospectus. A copy of the final prospectus, when available, may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 800-831-9146 or by email at prospectus@citi.com; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone at 800-747-3924 or by email at prospectus@psc.com; or Berenberg Capital Markets LLC, Attention: Investment Banking, 1251 Avenue of the Americas, 53^rd Floor, New York, NY 10020, or by telephone at 646-949-9000 or by email at prospectusrequests@berenberg-us.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 Sensei Biotherapeutics
Sensei Biotherapeutics is a clinical-stage biopharmaceutical company focused on the discovery, development and delivery of next generation of immunotherapies for the treatment of cancer and infectious diseases. The company has developed a proprietary bacteriophage-based platform, ImmunoPhage™, that enables the rapid generation of immune activating therapeutic agents that fully engage the immune system. Using the ImmunoPhage™ platform, Sensei is developing a library of ImmunoPhage, called Phortress™, to target multiple tumor-associated antigens to create a personalized yet off-the-shelf cocktail approach for treating cancer patients. The platform enables efficient, scalable and cost-effective manufacturing to support all of Sensei’s clinical programs. The company’s most advanced immunotherapy, SNS-301, a first-in-class ImmunoPhage™ targeting the tumor antigen Aspartyl beta Hydroxylase (ASPH), is currently in a Phase 1/2 clinical trial in patients with advanced Squamous Cell Carcinoma of the Head and Neck. Earlier stage programs include SNS-401, a ImmunoPhage™ cocktail for the treatment of Merkel Cell Carcinoma, and SNS-VISTA, an antibody-based therapeutic targeting an immune checkpoint gene that inhibits anti-tumor immune responses called V-domain Ig suppressor of T cell activation (VISTA).

Media Contact:
Kathryn Morris
The Yates Network
914-204-6412
kathryn@theyatesnetwork.com

Investor Contact:
Julie Seidel
Stern Investor Relations, Inc.
212-362-1200
julie.seidel@sternir.com

FAQ

What is Sensei Biotherapeutics' IPO price and expected proceeds?

Sensei Biotherapeutics' IPO price is $19.00 per share, with expected proceeds of approximately $133 million.

When will Sensei Biotherapeutics begin trading on Nasdaq?

Sensei Biotherapeutics is set to begin trading on Nasdaq under the ticker SNSE on February 4, 2021.

What is the size of the IPO for Sensei Biotherapeutics?

The IPO consists of 7,000,052 shares, with an additional option for underwriters to purchase 1,050,007 shares.

What is the purpose of the funds raised from the IPO?

The funds raised will primarily support the development of Sensei's ImmunoPhage™ platform and its ongoing clinical trials.

What is the expected closing date of the IPO?

The IPO is expected to close on February 8, 2021, subject to customary closing conditions.