NGM Bio Announces Pricing of Upsized $125.0 Million Public Offering of Common Stock
January 05 2021 - 9:54PM
NGM Biopharmaceuticals, Inc. (NGM) (Nasdaq: NGM), a biotechnology
company focused on discovering and developing transformative
therapeutics for patients, today announced the pricing of an
underwritten public offering of 4,629,630 shares of its common
stock at a price to the public of $27.00 per share. The
aggregate gross proceeds from the offering are expected to be
approximately $125.0 million, before deducting the
underwriting discounts and commissions and estimated offering
expenses payable by NGM. The offering is expected to close on or
about January 8, 2021, subject to customary closing
conditions. In connection with the offering, NGM has granted the
underwriters a 30-day option to purchase up to an additional
694,444 shares of its common stock at the public offering
price, less underwriting discounts and commissions.
Goldman Sachs & Co. LLC, Citigroup and Cowen are acting
as joint book-running managers for the offering. Raymond James and
B. Riley Securities are acting as lead managers for the
offering.
The shares described above are being offered
by NGM pursuant to a shelf registration statement on Form
S-3, including a base prospectus, that was previously filed
by NGM with the Securities and Exchange
Commission (the “SEC”) and was declared effective on June
16, 2020. A preliminary prospectus supplement and accompanying
prospectus relating to the offering have been filed with the SEC,
and a final prospectus supplement and accompanying prospectus
relating to the offering will be filed with the SEC and will be
available on the SEC’s website located at http://www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to the offering, when available, may be
obtained from: Goldman Sachs & Co. LLC, Attention:
Prospectus Department, 200 West Street, New York, New
York 10282, by telephone at 866-471-2526, by facsimile at
(212) 902-9316, or by email at prospectus-ny@ny.email.gs.com;
Citigroup Global Markets Inc., c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at
(800) 831-9146; or Cowen and Company, LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attn:
Prospectus Department, by telephone at (833) 297-2926, or by email
at PostSaleManualRequests@broadridge.com. The final terms of
the offering will be disclosed in a final prospectus supplement to
be filed with the SEC.
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 NGM Biopharmaceuticals, Inc.
NGM is a biopharmaceutical company focused on discovering and
developing novel therapeutics based on scientific understanding of
key biological pathways underlying liver and metabolic diseases,
retinal diseases and cancer. We leverage our biology-centric drug
discovery approach to uncover novel mechanisms of action and
generate proprietary insights that enable us to move rapidly
into proof-of-concept studies and deliver
potential first-in-class medicines to patients.
Forward-Looking StatementsThis release contains
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934 and the Private Securities Litigation Reform Act of
1995. These forward-looking statements are not based on historical
fact and include, but are not limited to, statements regarding the
completion of the public offering. Any forward-looking statements
are based on management’s current expectations of future events and
are subject to a number of risks and uncertainties that could cause
actual results to differ materially and adversely from those set
forth in or implied by such forward-looking statements. These risks
and uncertainties include, but are not limited to, risks and
uncertainties related to market conditions and satisfaction of
customary closing conditions related to the public offering. For a
discussion of other risks and uncertainties, and other important
factors, any of which could cause our actual results to differ from
those contained in the forward-looking statements, see the section
titled “Risk Factors” in our quarterly report on Form 10-Q for the
quarter ended September 30, 2020, and other filings with the SEC,
and in the preliminary prospectus supplement related to the public
offering, filed with the SEC on January 4, 2021. Except as
required by law, NGM assumes no obligation to update these
forward-looking statements, or to update the reasons if actual
results differ materially from those anticipated in the
forward-looking statements.
Investor Contact:Alex Schwartzir@ngmbio.com |
Media Contact:Liz Melonemedia@ngmbio.com |
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