Vor Biopharma Announces Pricing of Initial Public Offering

Rhea-AI Summary

Vor Biopharma (Nasdaq: VOR), a cell therapy firm, announced the pricing of its IPO, offering 9,828,017 shares at $18.00 per share. This will raise approximately $176.9 million before deductions. The underwriters have a 30-day option to purchase an additional 1,474,202 shares. Trading is set to start on February 5, 2021, with the offering closing on February 9, 2021. Goldman Sachs and others are the joint book-running managers. Registration statements have been filed with the SEC.

Positive

• IPO offering size of $176.9 million may enhance financial stability.
• Pioneering technology in engineered hematopoietic stem cell therapies could attract investor interest.

Negative

• Potential dilution of shares due to additional shares being offered.
• Market volatility around the IPO date may affect stock performance.

CAMBRIDGE, Mass., Feb. 05, 2021 (GLOBE NEWSWIRE) -- Vor Biopharma (Nasdaq: VOR), a cell therapy company pioneering engineered hematopoietic stem cell (eHSC) therapies combined with targeted therapies for the treatment of cancer, today announced the pricing of its initial public offering of 9,828,017 shares of its common stock at a price to the public of $18.00 per share. The gross proceeds to Vor from the offering, before deducting the underwriting discounts and commissions and other offering expenses payable by Vor, are expected to be approximately $176.9 million. In addition, Vor has granted the underwriters a 30-day option to purchase up to an additional 1,474,202 shares of its common stock at the initial public offering price, less the underwriting discounts and commissions. All of the shares of common stock are being offered by Vor.

The shares are expected to begin trading on the Nasdaq Global Market on Friday, February 5, 2021, under the ticker symbol “VOR”. The offering is expected to close on Tuesday, February 9, 2021, subject to customary closing conditions.

Goldman Sachs and Co. LLC, Evercore ISI, Barclays and Stifel are acting as joint book-running managers for the offering.

Registration statements relating to the securities being sold in this offering have been filed with the Securities and Exchange Commission (SEC) and have become effective. Copies of the registration statements can be accessed through the SEC’s website at www.sec.gov. This offering is being made only by means of a prospectus forming part of the effective registration statements relating to these shares. Copies of the final prospectus may be obtained, when available, from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone at 1-866-471-2526, or via email at prospectus-ny@ny.email.gs.com; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, New York 10055, via telephone at 1-888-474-0200, or via email at ecm.prospectus@evercore.com; Barclays Capital Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone at 1-888-603-5847, or via email at Barclaysprospectus@broadridge.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, via telephone at 1-415-364-2720, or via email at syndprospectus@stifel.com.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Vor Biopharma
Vor Biopharma is a cell therapy company that aims to transform the lives of cancer patients by pioneering eHSC therapies to create next-generation, treatment-resistant transplants that unlock the potential of targeted therapies. By removing biologically redundant proteins from eHSCs, we design these cells and their progeny to be treatment-resistant to complementary targeted therapies, thereby enabling these therapies to selectively destroy cancerous cells while sparing healthy cells.

Investor Contact:
Constantine Davides
Westwicke
+1 339-970-2846
constantine.davides@westwicke.com

Media Contact:
Matthew Corcoran
Ten Bridge Communications
+1 617-866-7350
mcorcoran@tenbridgecommunications.com

FAQ

What is Vor Biopharma's IPO price per share?

Vor Biopharma's IPO price is set at $18.00 per share.

When will Vor Biopharma start trading on Nasdaq?

Vor Biopharma shares are expected to begin trading on February 5, 2021.

How much is Vor Biopharma aiming to raise from its IPO?

Vor Biopharma aims to raise approximately $176.9 million from its IPO.

What is the ticker symbol for Vor Biopharma?

Vor Biopharma's ticker symbol is VOR.

What is the closing date for Vor Biopharma's IPO?

The IPO is expected to close on February 9, 2021.