Synlogic Announces Proposed Public Offering of Common Stock

Rhea-AI Summary

Synlogic (Nasdaq: SYBX), a clinical-stage company focused on synthetic biology, announced a proposed underwritten public offering of its common stock on Sept. 22, 2021. The offering includes a potential 30-day option for underwriters to purchase an additional 15% of shares. The offering is subject to market conditions, and its final size and terms remain uncertain. Jefferies and SVB Leerink are serving as joint book-running managers for the offering, which is conducted under a previously filed shelf registration statement with the SEC.

Positive

• Potential to raise substantial capital for advancing Synlogic's pipeline.
• Offer may enhance liquidity and support growth in metabolic disorder treatments.

Negative

• Dilution risk for existing shareholders due to new shares being issued.
• Market uncertainties may affect the completion and terms of the offering.

CAMBRIDGE, Mass., Sept. 22, 2021 /PRNewswire/ -- Synlogic (Nasdaq: SYBX), a clinical stage company bringing the transformative potential of synthetic biology to medicine, today announced that it has commenced an underwritten public offering of its common stock. All shares of common stock to be sold in the offering will be offered by Synlogic. Synlogic intends to grant the underwriters a 30-day option to purchase up to an aggregate of an additional 15% of the shares of its common stock offered in the public 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.

Jefferies and SVB Leerink are acting as joint book-running managers for the offering.

The securities described above are being offered by Synlogic pursuant to its shelf registration statement on Form S-3 (File No. 333-258151) filed with the Securities Exchange Commission (the "SEC") on July 23, 2021 and declared effective by the SEC on July 30, 2021. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at https://www.sec.gov/. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may be obtained from: Jefferies LLC, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by email at Prospectus_Department@Jefferies.com or by phone at 877-821-7388; or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@svbleerink.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 other 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 other jurisdiction. Any offer, if at all, will be made only by means of the prospectus supplement and accompanying prospectus forming a part of the effective registration statement.

About Synlogic

Synlogic™ is bringing the transformative potential of synthetic biology to medicine. Synlogic designs Synthetic Biotic medicines that target validated underlying biology to treat disease in new ways. Synlogic's proprietary pipeline includes Synthetic Biotics for the treatment of metabolic disorders including Phenylketonuria (PKU) and Enteric Hyperoxaluria (HOX).

Forward-Looking Statements

This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. 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. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, including the risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed public offering, as well as risks and uncertainties inherent in Synlogic's business, including those described in the company's periodic filings with the SEC. The events and circumstances reflected in the company's forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. Additional information on risks facing Synlogic can be found under the heading "Risk Factors" in Synlogic's periodic reports, including its annual report on Form 10-K for the year ended December 31, 2020 and in the preliminary prospectus supplement related to the proposed offering to be filed with the SEC on or about the date hereof, each available on the SEC's web site at www.sec.gov. Except as required by applicable law, the company does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.  

View original content:https://www.prnewswire.com/news-releases/synlogic-announces-proposed-public-offering-of-common-stock-301383263.html

SOURCE Synlogic, Inc.

FAQ

What is Synlogic's public offering on September 22, 2021?

Synlogic announced a proposed underwritten public offering of its common stock, potentially allowing for a 30-day option for underwriters to purchase an additional 15% of shares.

What will Synlogic use the capital raised from the offering for?

While specific uses have not been detailed, the capital is intended to support the advancement of Synlogic's pipeline in synthetic biology, focusing on metabolic disorders.

Who is managing Synlogic's public offering?

Jefferies and SVB Leerink are acting as joint book-running managers for Synlogic's public offering.

What are the risks associated with Synlogic's public offering?

Key risks include dilution for existing shareholders and uncertainties related to market conditions that may impact the offering's completion and terms.

How can investors find more information about the offering?

Investors can access the preliminary prospectus supplement and accompanying prospectus, which will be filed with the SEC and available on their website.