Talaris Therapeutics Announces Pricing of Initial Public Offering

Rhea-AI Summary

Talaris Therapeutics announced its initial public offering (IPO) pricing of 8,825,000 shares at $17.00 per share, expected to generate approximately $150 million before expenses. The shares will trade on Nasdaq under the ticker symbol “TALS” starting May 7, 2021, with the offering closing on May 11, 2021, pending customary conditions. An additional 1,323,750 shares may be purchased by underwriters within 30 days. This IPO aims to support Talaris's development of innovative therapies for organ transplantation and severe autoimmune diseases.

Positive

• The IPO is expected to raise approximately $150 million, providing substantial funds for development.
• Potential for transformative therapies in solid organ transplantation and severe autoimmune diseases may drive future growth.

Negative

• The offering could result in shareholder dilution if additional shares are issued by underwriters.

BOSTON and LOUISVILLE, Ky., May 06, 2021 (GLOBE NEWSWIRE) -- Talaris Therapeutics, Inc., a late-clinical stage cell therapy company developing therapies with the potential to transform the standard of care in solid organ transplantation, certain severe autoimmune diseases, and certain severe non-malignant blood, immune and metabolic disorders, today announced the pricing of its initial public offering of 8,825,000 shares of common stock at a price to the public of $17.00 per share. All shares are being offered by Talaris. The gross proceeds to Talaris from the offering, before deducting underwriting discounts, commissions and other offering expenses, are expected to be approximately $150.0 million. The shares are expected to begin trading on The Nasdaq Global Select Market under the ticker symbol “TALS” on May 7, 2021. The offering is expected to close on May 11, 2021, subject to the satisfaction of customary closing conditions. In addition, the underwriters have a 30-day option to purchase up to an additional 1,323,750 shares of common stock at the initial public offering price less underwriting discounts and commissions.

Morgan Stanley, SVB Leerink, Evercore ISI and Guggenheim Securities are acting as joint book-running managers for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on May 6, 2021. The offering is being made only by means of a written prospectus. Copies of the final prospectus relating to the initial public offering can be obtained, when available, from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; 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; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, or by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.com; and Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-5548, 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 Talaris Therapeutics

Talaris Therapeutics, Inc. is a late-clinical stage cell therapy company developing an innovative method of allogeneic hematopoietic stem cell transplantation with the potential to transform the standard of care in solid organ transplantation, certain severe autoimmune diseases, and certain severe non-malignant blood, immune and metabolic disorders. Talaris maintains corporate offices in Boston, Mass., and its cell processing facility in Louisville, Ky.

Media Contact:

Lisa Raffensperger
Ten Bridge Communications
lisa@tenbridgecommunications.com 
(617) 903-8783

FAQ

What is the pricing of Talaris Therapeutics' IPO?

Talaris Therapeutics' IPO is priced at $17.00 per share.

When will Talaris Therapeutics start trading on Nasdaq?

Talaris Therapeutics is expected to start trading on Nasdaq under the ticker symbol 'TALS' on May 7, 2021.

What are the expected proceeds from the Talaris IPO?

The expected gross proceeds from the Talaris IPO are approximately $150 million, before deducting expenses.

What is the purpose of Talaris Therapeutics' IPO?

The IPO aims to fund the development of therapies for solid organ transplantation and severe autoimmune diseases.

Are there underwriters involved in Talaris Therapeutics' IPO?

Yes, Morgan Stanley, SVB Leerink, Evercore ISI, and Guggenheim Securities are acting as joint book-running managers for the offering.