Rubius Therapeutics Prices Upsized Public Offering of Common Stock
March 16 2021 - 9:28PM
Rubius Therapeutics, Inc. (NASDAQ: RUBY) (“Rubius”), a
clinical-stage biopharmaceutical company that is genetically
engineering red blood cells to create an entirely new class of
cellular medicines called Red Cell Therapeutics™, today announces
the pricing of an upsized underwritten public offering of 6,896,552
shares of its common stock at a public offering price of $29.00 per
share. The gross proceeds to Rubius from the offering are expected
to be approximately $200 million, before deducting the underwriting
discounts and commissions and other offering expenses. Rubius has
granted the underwriters a 30-day option to purchase up to an
additional 1,034,482 shares of its common stock.
All the shares in the offering are to be sold by Rubius. The
offering is expected to close on or about March 19, 2021, subject
to satisfaction of customary closing conditions. Rubius intends to
use the net proceeds from the offering, together with its existing
cash, cash equivalents and investments, to advance development of
its ongoing and future clinical programs, to further develop its
technology platform and to continue to advance its preclinical
pipeline. Any remaining proceeds will be used for other ongoing
research and development activities and general corporate purposes,
such as working capital, operating expenses and capital
expenditures, including those related to its in-house manufacturing
facility.
J.P. Morgan, Jefferies and Guggenheim Securities are acting as
joint bookrunning managers for the offering.
The public offering is being made by Rubius pursuant to an
effective shelf registration statement on Form S-3 that was
previously filed with the U.S. Securities and Exchange Commission
(the “SEC”) and declared effective by the SEC. A final prospectus
supplement relating to and describing the terms of this offering
will be filed with the SEC. When available, copies of the final
prospectus supplement and the accompanying prospectus relating to
these securities may be obtained from J.P. Morgan Securities LLC,
Attention: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, by telephone at (866) 803-9204, or via email at
prospectus-eq_fi@jpmchase.com; from Jefferies LLC, Attention:
Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, New York 10022, via telephone: +1 877-821-7388 or
via email: Prospectus_Department@Jefferies.com; or from Guggenheim
Securities, LLC Attention: Equity Syndicate Department, 330 Madison
Avenue, New York, NY 10017 or by telephone at (212) 518-5548, or by
email at GSEquityProspectusDelivery@guggenheimpartners.com. You may
also obtain these documents free of charge by visiting the SEC’s
website at www.sec.gov.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Rubius Therapeutics, Inc.
Rubius Therapeutics is a clinical-stage biopharmaceutical
company developing a new class of medicines called Red Cell
Therapeutics™. The Company’s proprietary RED PLATFORM® was designed
to genetically engineer and culture Red Cell Therapeutics™ that are
selective, potent and off-the-shelf allogeneic cellular therapies
for the potential treatment of several diseases across multiple
therapeutic areas.
Forward-looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended, including, without limitation, statements
regarding future expectations, plans and prospects, including
without limitation, Rubius’ expectations regarding the consummation
of the offering, the terms of the offering, the satisfaction of
customary closing conditions with respect to the offering, the
anticipated use of the net proceeds of the offering and our
expectations regarding our strategy, business plans and focus. The
words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,”
“anticipate,” “intend,” “believe,” “estimate,” “predict,”
“project,” “potential,” “continue,” “target” and similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. Any forward-looking statements in this press
release are based on management’s current expectations and beliefs
and are subject to a number of risks, uncertainties and important
factors that may cause actual events or results to differ
materially from those expressed or implied by any forward-looking
statements contained in this press release, including, without
limitation, changes as a result of market conditions or for other
reasons, the risk that the offering will not be consummated, those
risks and uncertainties related to the development of our Red Cell
Therapeutic product candidates and their therapeutic potential and
other risks identified in our SEC filings, including our Annual
Report on Form 10-K for the year ended December 31, 2020, and
subsequent filings with the SEC and risks and uncertainties related
to the severity and duration of the impact of COVID-19 on our
business and operations. We disclaim any obligation to publicly
update or revise any such statements to reflect any change in
expectations or in events, conditions or circumstances on which any
such statements may be based, or that may affect the likelihood
that actual results will differ from those set forth in the
forward-looking statements. Any forward-looking statements
contained in this press release represent our views only as of the
date hereof and should not be relied upon as representing its views
as of any subsequent date. We explicitly disclaim any obligation to
update any forward-looking statements.
Contacts:InvestorsElhan Webb, CFA, Vice
President of Investor Relationselhan.webb@rubiustx.com
MediaMarissa Hanify, Director, Corporate
CommunicationsMarissa.hanify@rubiustx.com
Dan Budwick, 1AB+1 (973) 271-6085dan@1abmedia.com
Rubius Therapeutics (NASDAQ:RUBY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Rubius Therapeutics (NASDAQ:RUBY)
Historical Stock Chart
From Jul 2023 to Jul 2024