Design Therapeutics Announces Pricing of Initial Public Offering
March 25 2021 - 11:55PM
Design Therapeutics, Inc., a biotechnology company developing a
platform of gene targeted chimera (GeneTAC™) small molecules for
the treatment of serious degenerative disorders caused by inherited
nucleotide repeat expansions, today announced the pricing of its
initial public offering of 12,000,000 shares of its common stock at
a price to the public of $20.00 per share. The gross proceeds to
Design from the offering, before deducting the underwriting
discounts and commissions and offering expenses, are expected to be
$240.0 million. All of the shares are being offered by Design. In
addition, Design has granted the underwriters a 30-day option to
purchase up to an additional 1,800,000 shares of its common stock
at the initial public offering price less the underwriting
discounts and commissions.
The shares are expected to begin trading on the
Nasdaq Global Select Market on March 26, 2021, under the
ticker symbol “DSGN.” The offering is expected to close on March
30, 2021, subject to the satisfaction of customary closing
conditions.
Goldman Sachs & Co. LLC, SVB Leerink LLC and
Piper Sandler are acting as joint book-running managers for the
offering.
A registration statement relating to the offering
of these securities has been filed with the Securities and Exchange
Commission (SEC) and became effective on March 25, 2021. Copies of
the registration statement can be accessed through the SEC's
website at www.sec.gov. This offering is being made only by means
of a written prospectus, forming a part of the effective
registration statement. Copies of the final prospectus relating to
the initial public offering may be obtained, when available, from:
Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200
West Street, New York, NY 10282, or by telephone at (866)
471-2526, or by email at prospectus-ny@ny.email.gs.com; SVB
Leerink LLC, Attention: Syndicate Department, One Federal Street,
37th Floor, Boston, MA 02110, or by telephone at (800) 808-7525,
ext. 6105, or by email at syndicate@svbleerink.com; or Piper
Sandler & Co., Attention: Prospectus Department, 800 Nicollet
Mall, J12S03, Minneapolis, MN 55402, or by telephone at (800)
747-3924, or by email at prospectus@psc.com.
This press release shall 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 offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Contact: Alicia Davis THRUST
Strategic Communications (910) 620-3302alicia@thrustsc.com
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