Prime Medicine Announces Pricing of Upsized Initial Public Offering
October 19 2022 - 8:47PM
Business Wire
Prime Medicine, Inc. (Nasdaq: PRME), a biotechnology company
committed to delivering a new class of differentiated one-time
curative genetic therapies, today announced the pricing of its
upsized initial public offering of 10,294,118 shares of its common
stock at a price to the public of $17.00 per share. All of the
shares are being offered by Prime Medicine. The gross proceeds of
the offering, before deducting underwriting discounts and
commissions and other offering expenses payable by Prime Medicine,
are expected to be $175.0 million. In addition, the underwriters
have a 30-day option to purchase up to 1,544,117 additional shares
of common stock at the initial public offering price less
underwriting discounts and commissions.
The shares are expected to begin trading on the Nasdaq Global
Market on October 20, 2022 under the ticker symbol “PRME.” The
offering is expected to close on October 24, 2022, subject to the
satisfaction of customary closing conditions.
J.P. Morgan, Goldman Sachs & Co. LLC, Morgan Stanley and
Jefferies 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
October 19, 2022. The offering is being made only by means of a
prospectus. When available, copies of the final prospectus relating
to the offering may be obtained from: J.P. Morgan Securities LLC,
Attention: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717 or by telephone at 866-803-9204 or by email at
prospectus-eq_fi@jpmchase.com; Goldman Sachs & Co. LLC,
Attention: Prospectus Department, 200 West Street, New York, NY
10282, via telephone: (866) 471-2526, or via email:
prospectus-ny@ny.email.gs.com; Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, New York 10014, by telephone at (866) 718-1649 or by e-mail
to prospectus@morganstanley.com; Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, New York, NY
10022, by telephone at 877-821-7388 or by email at
Prospectus_Department@Jefferies.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor will there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation, or sale would be unlawful before
registration or qualification under the securities laws of that
state or jurisdiction.
About Prime Medicine
Prime Medicine is a biotechnology company committed to
delivering a new class of differentiated, one-time, curative
genetic therapies to address the widest spectrum of diseases. The
company is deploying Prime Editing technology, a versatile,
precise, efficient and broad gene editing technology, which is
designed to make only the right edit at the right position within a
gene. With the theoretical potential to repair approximately 90
percent of known disease-causing genetic mutations across many
organs and cell types, medicines based on Prime Editing, if
approved, could offer a one-time curative genetic therapeutic
option to a broad set of patients.
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain disclosures that contain
“forward-looking statements,” including, without limitation,
statements regarding Prime Medicine’s expectations regarding the
commencement of trading of its shares on the Nasdaq Global Market,
the completion and timing of the closing of the offering and the
anticipated gross proceeds from the offering. Forward-looking
statements are based on Prime Medicine’s current expectations and
are subject to inherent uncertainties, risks and assumptions that
are difficult to predict. Factors that could cause actual results
to differ include, but are not limited to, risks and uncertainties
related to the satisfaction of customary closing conditions and the
completion of the offering, and the risks inherent in
biopharmaceutical product development and clinical trials. These
and other risks and uncertainties are described more fully in the
section titled “Risk Factors” section of the registration statement
filed with the Securities and Exchange Commission. Forward-looking
statements contained in this announcement are made as of this date,
and Prime Medicine undertakes no duty to update such information
except as required under applicable law. Readers should not rely
upon the information on this page as current or accurate after its
publication date.
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version on businesswire.com: https://www.businesswire.com/news/home/20221019006202/en/
Media Contact: Dan Budwick 1AB dan@1ABmedia.com
Investor Contact: Hannah Deresiewicz Stern Investor
Relations hannah.deresiewicz@sternir.com
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