SpringWorks Therapeutics Announces Closing of Upsized Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

SpringWorks Therapeutics, Inc. (SWTX) closed an underwritten public offering of 10,905,171 shares of its common stock at a public offering price of $29.00 per share, grossing approximately $316.25 million. The offering was managed by Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Cowen and Company, LLC, and Guggenheim Securities, LLC. The company's focus on severe rare diseases and cancer is evident from its strategic financial moves.

STAMFORD, Conn., Dec. 08, 2023 (GLOBE NEWSWIRE) -- SpringWorks Therapeutics, Inc. (Nasdaq: SWTX), a commercial-stage biopharmaceutical company focused on severe rare diseases and cancer, announced today the closing of its previously announced underwritten public offering of 10,905,171 shares of its common stock at a public offering price of $29.00 per share, which includes the exercise in full by the underwriters of their option to purchase up to an additional 1,422,413 shares of common stock in this offering. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, were approximately $316.25 million.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Cowen and Company, LLC and Guggenheim Securities, LLC acted as joint book-running managers for the offering.

An automatic shelf registration statement on Form S-3ASR (including a prospectus) relating to these securities has been filed with the Securities and Exchange Commission (SEC) and has become effective.

The offering was made only by means of a prospectus and prospectus supplement that form part of the automatic shelf registration statement. A copy of the final prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526 or by email at prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1115 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; Cowen and Company, LLC, 599 Lexington Avenue, New York, NY 10022, by email at Prospectus_ECM@cowen.com or by telephone at (833) 297-2926; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, or by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

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 SpringWorks Therapeutics

SpringWorks is a commercial-stage biopharmaceutical company applying a precision medicine approach to developing and delivering life-changing medicines for people with severe rare diseases and cancer.

Founded in 2017, SpringWorks has a diversified targeted oncology pipeline spanning solid tumors and hematological cancers, including clinical trials in rare tumor types and highly prevalent, genetically defined cancers. OGSIVEO™, approved in the United States for the treatment of adult patients with progressing desmoid tumors who require systemic treatment, is SpringWorks’ first U.S. Food and Drug Administration (FDA)-approved therapy. SpringWorks’ strategic approach and operational excellence in clinical development have enabled it to rapidly advance its lead product candidates into late-stage trials and enter into multiple collaborations with innovators in industry and academia to unlock the full potential for its portfolio and create more solutions for patients with cancer.

SpringWorks Contacts:

Kim Diamond
Vice President, Communications and Investor Relations
Phone: 203-561-1646
Email: kdiamond@springworkstx.com

Samantha Hilson Sandler
Senior Director, Investor Relations
Phone: 203-461-5501
Email: samantha.sandler@springworkstx.com

FAQ

What is the recent public offering by SpringWorks Therapeutics, Inc. (SWTX)?

The company closed an underwritten public offering of 10,905,171 shares of its common stock at a public offering price of $29.00 per share.

How much gross proceeds did SpringWorks Therapeutics, Inc. (SWTX) generate from the recent offering?

The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, were approximately $316.25 million.

Who managed the recent public offering of SpringWorks Therapeutics, Inc. (SWTX)?

The offering was managed by Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Cowen and Company, LLC, and Guggenheim Securities, LLC.

What is the focus area of SpringWorks Therapeutics, Inc. (SWTX)?

The company is focused on severe rare diseases and cancer, as evident from its strategic financial moves.

How can I obtain a copy of the final prospectus supplement and accompanying prospectus relating to the offering by SpringWorks Therapeutics, Inc. (SWTX)?

A copy of the final prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and may be obtained from the respective managing companies.