Editas Medicine Announces Offering of Common Stock
June 14 2023 - 4:05PM
Editas Medicine, Inc. (Nasdaq: EDIT), a clinical-stage genome
editing company, today announced that it intends to offer and sell
$125 million of shares of its common stock in an underwritten
public offering. Editas Medicine intends to grant the underwriters
a 30-day option to purchase up to an additional $18.8 million of
shares of its common stock. All of the shares in the offering are
to be sold by Editas Medicine.
J.P. Morgan Securities LLC, Cowen and Company, LLC and Evercore
Group L.L.C. are acting as joint book-running managers for the
offering. The offering is subject to market and other conditions,
and there can be no assurance as to whether or when the offering
may be completed or as to the actual size or terms of the
offering.
An automatically effective shelf registration statement relating
to the shares of common stock offered in the public offering
described above was filed with the Securities and Exchange
Commission (SEC) on March 1, 2021. The offering will be made only
by means of the prospectus and a prospectus supplement that form a
part of the registration statement. A copy of the preliminary
prospectus supplement related to the offering will be filed with
the SEC and will be available for free on the SEC’s website at
www.sec.gov. Copies of the preliminary prospectus supplement and
the accompanying prospectus relating to the securities being
offered may also be obtained, when available, by contacting J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, New York 11717, by telephone at
1-866-803-9204, or by emailing at prospectus-eq_fi@jpmchase.com;
Cowen and Company, LLC, 599 Lexington Avenue, New York, NY 10022,
by e-mail at Prospectus_ECM@cowen.com or by telephone at (833)
297-2926; or Evercore Group L.L.C., Attention: Equity Capital
Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055,
by telephone at 888-474-0200, or by email at
ecm.prospectus@evercore.com.
This press release does not constitute an offer to sell or the
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.
About Editas MedicineAs a clinical-stage
genome editing company, Editas Medicine is focused on translating
the power and potential of the CRISPR/Cas12a and Cas9 genome
editing systems into a robust pipeline of treatments for people
living with serious diseases around the world. Editas Medicine aims
to discover, develop, manufacture, and commercialize
transformative, durable, precision genomic medicines for a broad
class of diseases. Editas Medicine is the exclusive licensee of
Broad Institute’s Cas12a patent estate and Broad Institute and
Harvard University’s Cas9 patent estates for human medicines.
Forward-Looking StatementsThis press release
contains forward-looking statements and information within the
meaning of The Private Securities Litigation Reform Act of 1995,
including statements about the proposed offering. The words
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,”
“plan,” “predict,” “project,” “would” and similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. Actual
results or events could differ materially from the plans,
intentions and expectations disclosed in these forward-looking
statements as a result of various factors, including: the
uncertainties related to whether or not the Company will be able to
raise capital through the sale of shares of common stock, the final
terms of the proposed offering, market and other conditions, the
satisfaction of customary closing conditions related to the
proposed public offering and the impact of general economic,
industry or political conditions in the United States or
internationally; uncertainties inherent in the initiation of
preclinical studies and clinical trials and clinical development of
the Company’s product candidates; availability and timing of
results from preclinical studies and clinical trials; whether
interim results from a clinical trial will be predictive of the
final results of the trial or the results of future trials;
expectations for regulatory approvals to conduct trials or to
market products and availability of funding sufficient for the
Company’s foreseeable and unforeseeable operating expenses and
capital expenditure requirements. These and other risks are
described in greater detail under the captions “Risk Factor
Summary” and “Risk Factors” included in Editas Medicine’s Annual
Report on Form 10-K for the fiscal year ended December 31, 2022
filed with the SEC on February 22, 2023 and in the Company’s
subsequent filings with the SEC, the Company’s preliminary
prospectus supplement to be filed on the date of this press
release, and other filings the Company may make with the SEC in the
future. Any forward-looking statements contained in this press
release speak only as of the date hereof, and the Company expressly
disclaims any obligation to update any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Contacts
Media and Investor Contact
Cristi Barnett
(617) 401-0113
cristi.barnett@editasmed.com
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