Graybug Vision Announces Pricing of Upsized Initial Public Offering
September 24 2020 - 8:12PM
Graybug Vision, Inc. (Nasdaq: GRAY), a clinical-stage
biopharmaceutical company focused on developing transformative
medicines to treat chronic vision-threatening diseases of the
retina and optic nerve, today announced the pricing of its upsized
initial public offering of 5,625,000 shares of common stock at a
public offering price of $16.00 per share. All of the shares
are being offered by Graybug. The gross proceeds from the offering,
before deducting underwriting discounts and commissions and other
offering expenses payable by Graybug, are expected to be $90.0
million. In addition, Graybug has granted the underwriters a 30-day
option to purchase up to an additional 843,750 shares of common
stock at the initial public offering price, less underwriting
discounts and commissions. The shares are expected to begin trading
on the Nasdaq Global Market on September 25, 2020 under the symbol
“GRAY.” The offering is expected to close on September 29, 2020,
subject to customary closing conditions.
SVB Leerink and Piper Sandler are acting as joint bookrunning
managers for the offering. Needham & Company and Wedbush
PacGrow are acting as passive bookrunners for the offering.
Registration statements relating to these securities have been
filed with the Securities and Exchange Commission and
became effective on September 24, 2020. The offering is being
made only by means of a prospectus. A copy of the final prospectus,
when available, may be obtained from SVB Leerink LLC, Attention:
Syndicate Department, One Federal Street, 37th Floor, Boston, MA
02110, by email at syndicate@svbleerink.com, or by telephone at
(800) 808-7525, ext. 6132; or Piper Sandler & Co., Attention:
Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN
55402, by email at prospectus@psc.com, or by telephone at (800)
747-3924.
This press release shall 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 Graybug Graybug is a clinical-stage
biopharmaceutical company focused on developing transformative
medicines to treat chronic diseases of the retina and optic nerve.
The company’s proprietary ocular delivery technologies are designed
to maintain effective drug levels in ocular tissue for up to six
months and potentially longer, improving patient compliance,
reducing healthcare burdens and ultimately delivering better
clinical outcomes. Graybug’s lead product candidate, GB-102, a
microparticle depot formulation of sunitinib malate, inhibits
multiple neovascular pathways for the intravitreal treatment of
retinal diseases, including wet age-related macular degeneration,
with a six-month dosing regimen. Graybug is also using its
proprietary technologies to develop GB-401, an injectable depot
formulation of a beta-adrenergic prodrug, for primary open-angle
glaucoma, with a dosing regimen of once every six months or longer,
and GB-103, a longer-acting version of GB-102, designed to maintain
therapeutic drug levels in the retinal tissue for 12 months with a
single injection. Founded in 2011 on the basis of technology
licensed from the Johns Hopkins University School of Medicine,
Graybug is headquartered in Redwood City, California.
Investor
ContactIR@graybug.vision(650) 487-2409 |
Media
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384-0067 |
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