Taysha Gene Therapies Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

Taysha Gene Therapies (Nasdaq: TSHA) has announced the completion of its initial public offering, raising approximately $181 million. Underwriters exercised an option to purchase additional shares at $20.00 each, with the issuance closing on September 29, 2020. This offering is focused on funding AAV-based gene therapies for central nervous system diseases. Goldman Sachs, Morgan Stanley, and Jefferies were the main managers for the IPO, which was registered and declared effective by the SEC on September 23, 2020.

Positive

• Raised approximately $181 million from the IPO for AAV-based gene therapies.
• Successful exercise of underwriters' option for additional shares indicates strong demand.

Negative

• Potential dilution of existing shares due to the additional share issuance.

DALLAS--(BUSINESS WIRE)--Taysha Gene Therapies, Inc. (Nasdaq: TSHA), a patient-centric gene therapy company focused on developing and commercializing AAV-based gene therapies for the treatment of monogenic diseases of the central nervous system in both rare and large patient populations, today announced that the underwriters of its previously announced initial public offering have exercised their option to purchase additional shares of common stock at the public offering price of $20.00 per share, for total offering gross proceeds of approximately $181.0 million, before underwriting discounts and commissions and other offering expenses payable by Taysha. The issuance of additional shares closed on September 29, 2020, and all of the shares were sold by Taysha. Taysha’s common stock is listed on the Nasdaq Global Select Market under the ticker symbol “TSHA.”

Goldman Sachs & Co. LLC, Morgan Stanley and Jefferies acted as joint book-running managers for the offering. Chardan acted as lead manager for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective on September 23, 2020. The offering was made only by means of a prospectus. A copy of the final prospectus may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526 or by emailing prospectus-ny@ny.email.gs.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or Jefferies, LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022 or by emailing Prospectus_Department@Jefferies.com.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. 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.