Rhythm Pharmaceuticals, Inc. Announces Proposed Public Offering
February 03 2021 - 4:01PM
Rhythm Pharmaceuticals, Inc. (Nasdaq: RYTM), a biopharmaceutical
company aimed at developing and commercializing therapies for the
treatment of rare genetic diseases of obesity, today announced a
proposed public offering of $150 million of shares of its
common stock. All shares in the offering will be offered by Rhythm.
In addition, Rhythm intends to grant the underwriters a 30-day
option to purchase up to an additional $22.5 million of
shares of common stock at the public offering price, less the
underwriting discount and commission.
Morgan Stanley, BofA Securities, Cowen and Stifel will
act as the joint book-running managers for the proposed
offering. Canaccord will act as lead manager for the proposed
offering. The offering is subject to market and other customary
closing conditions, and there can be no assurance as to whether or
when the offering may be completed.
The proposed offering is being made pursuant to a shelf
registration statement on Form S-3, including a base prospectus,
that was filed by Rhythm with the Securities and Exchange
Commission (SEC) and was automatically effective upon filing on
November 9, 2018. The proposed offering will be made only by means
of a preliminary prospectus supplement and the accompanying base
prospectus. A copy of the preliminary prospectus relating to the
offering, when available, may be obtained from: Morgan
Stanley, Attention: Prospectus Department, 180 Varick Street,
Second Floor, New York, New York 10014, or by email at
prospectus@morganstanley.com; BofA Securities NC1-004-03-43,
200 North College Street, 3rd floor, Charlotte, NC 28255-0001,
Attn: Prospectus Department, or by email at
dg.prospectus_requests@bofa.com; Cowen, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717, Attention: Prospectus Department,
email: PostSaleManualRequests@broadridge.com, telephone:
1-833-297-2926; or Stifel, Attention: Syndicate, One Montgomery
Street, Suite 3700, San Francisco, California 94104, by telephone
at 415-364-2720 or by email at syndprospectus@stifel.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 an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
Forward Looking Statement
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements contained in this press release that do not
relate to matters of historical fact should be considered
forward-looking statements, including without limitation statements
regarding the completion, timing and size of our proposed public
offering and our expectations with respect to granting the
underwriters a 30-day option to purchase additional shares.
Statements using words such as “expect”, “anticipate”, “believe”,
“may”, “will” and similar terms are also forward-looking
statements. Such statements are subject to numerous risks and
uncertainties, including, but not limited to, risks associated with
general economic and market conditions, the design and outcome of
our clinical trials, the impact of the COVID-19 pandemic on our
business and operations, including our preclinical studies,
clinical trials and commercialization prospects, and the other
important factors discussed under the caption “Risk Factors” in the
preliminary prospectus supplement related to the offering, our
Quarterly Report on Form 10-Q for the quarterly period
ended September 30, 2020 and our other filings with
the SEC. Except as required by law, we undertake no
obligations to make any revisions to the forward-looking statements
contained in this press release or to update them to reflect events
or circumstances occurring after the date of this press release,
whether as a result of new information, future developments or
otherwise.
Company Contact:David ConnollyHead of Investor
Relations and Corporate CommunicationsRhythm Pharmaceuticals,
Inc.857-264-4280dconnolly@rhythmtx.com
Investor Contact:Hannah DeresiewiczStern
Investor Relations,
Inc.212-362-1200hannah.deresiewicz@sternir.com
Media Contact:Adam DaleyBerry & Company
Public Relations212-253-8881adaley@berrypr.com
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