Design Therapeutics Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Addi...
March 30 2021 - 4:05PM
Design Therapeutics, Inc. (Nasdaq: DSGN) (“Design”), 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 closing of its previously announced
initial public offering of 13,800,000 shares of its common stock,
which includes 1,800,000 shares sold pursuant to the exercise in
full by the underwriters of their option to purchase additional
shares, at a price to the public of $20.00 per share. Including the
option exercise, the aggregate gross proceeds to Design from the
offering were approximately $276.0 million, before deducting the
underwriting discounts and commissions and offering expenses. The
shares began trading on the Nasdaq Global Select Market on March
26, 2021, under the ticker symbol “DSGN.”
Goldman Sachs & Co. LLC, SVB Leerink LLC and
Piper Sandler acted 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 was 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 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)
620-3302
alicia@thrustsc.com
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