CAMBRIDGE, Mass., Nov. 3, 2022
/PRNewswire/ -- Nuvalent, Inc. (Nasdaq: NUVL), a clinical-stage
biopharmaceutical company focused on
creating precisely targeted therapies for
clinically proven kinase targets in cancer, today announced the
closing of its previously announced upsized underwritten public
offering of 7,895,522 shares of Class A common stock, which
includes 1,029,850 shares of Class A common stock sold pursuant to
the exercise in full by the underwriters of their option to
purchase additional shares, at a price to the public of
$33.50 per share. The gross proceeds
of the offering were approximately $264.5
million, before deducting underwriting discounts and
commissions and other offering expenses. All shares in the offering
were offered by Nuvalent.
J.P. Morgan, Cowen, Piper Sandler
and BMO Capital Markets acted as joint book-running managers for
the offering.
The shares were offered by Nuvalent pursuant to a shelf
registration statement that was filed with the Securities and
Exchange Commission ("SEC") on August 10,
2022, and declared effective by the SEC on August 16, 2022. This offering was made only by
means of a prospectus and prospectus supplement that form a part of
the registration statement. A final prospectus supplement relating
to and describing the terms of the offering has been filed with the
SEC and may be obtained for free by visiting the SEC's website at
www.sec.gov. Copies of the final prospectus supplement and the
accompanying prospectus can be obtained from: J.P. Morgan
Securities LLC, Attention: Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY
11717, by telephone (866) 803-9204 or by email at
prospectus-eq_fi@jpmchase.com; Cowen and Company, LLC c/o
Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY, 11717, Attn:
Prospectus Department, by email at
PostSaleManualRequests@broadridge.com or by telephone at (833)
297-2926; Piper Sandler & Co.,
800 Nicollet Mall, J12S03, Minneapolis,
MN 55402, Attention: Prospectus Department, by telephone at
(800) 747-3924, or by email at prospectus@psc.com; and BMO Capital
Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd
Street, 32nd Floor, New York, NY
10036, by telephone at (800) 414-3627, or by email at
bmoprospectus@bmo.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 Nuvalent
Nuvalent, Inc. (Nasdaq: NUVL) is a
clinical-stage biopharmaceutical company focused on
creating precisely targeted therapies for patients
with cancer, designed to overcome the limitations of existing
therapies for clinically proven kinase targets. Leveraging deep
expertise in chemistry and structure-based drug design, we develop
innovative small molecules that have the potential to overcome
resistance, minimize adverse events, address brain metastases, and
drive more durable responses. Nuvalent is advancing a robust
pipeline with parallel lead programs in ROS1-positive and
ALK-positive non-small cell lung cancer (NSCLC), a program in HER2
Exon 20 insertion-positive cancers, and multiple discovery-stage
research programs.
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SOURCE Nuvalent, Inc.