BOSTON, May 05, 2022 (GLOBE NEWSWIRE) — PepGen, Inc., a clinical-stage biotechnology company advancing the next generation of oligonucleotide therapies with the goal of transforming the treatment of serious neuromuscular and neurological diseases, announced today today the price of its initial public offering. The offering consists of 9,000,000 common shares at an initial public offering price of $12.00 per share. Gross proceeds from the offering, before deducting underwriting discounts and commissions and offering fees payable by PepGen, are expected to be $108.0 million. In addition, PepGen has granted the underwriters a 30-day option to purchase up to an additional 1,350,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. All common shares are offered by PepGen.
The shares are expected to begin trading on the Nasdaq Global Select Market on May 6, 2022, under the symbol “PEPG”. The offering is expected to close on May 10, 2022, subject to satisfaction of customary closing conditions.
BofA Securities, SVB Securities and Stifel are acting as joint bookrunners for the offering. Wedbush PacGrow acts as lead offer manager.
A registration statement relating to the offering has been filed with the Securities and Exchange Commission effective May 5, 2022. The offering is being made only by way of a prospectus, copies of which may be obtained, when available, from: BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by e-mail to dg .prospectus_requests@bofa.com; SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by phone at 1-800-808-7525, ext. 6105, or by email at syndicate@svbsecurities.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by phone at 415-364-2720 or by email at syndprospectus@stifel.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no 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 such state or territory.
About PepGen
PepGen, Inc. is a clinical-stage biotechnology company advancing the next generation of oligonucleotide therapies with the goal of transforming the treatment of serious neuromuscular and neurological diseases. PepGen’s Enhanced Deliver Oligonucleotide, or EDO, platform is based on more than a decade of research and development and harnesses cell-penetrating peptides to enhance the uptake and potency of conjugate oligonucleotide therapies. Using these EDO peptides, we generate a pipeline of oligonucleotide therapeutic candidates that target the root cause of serious diseases.
Forward-looking statements
This press release contains forward-looking statements. These statements can be identified by words such as “aims”, “anticipates”, “believes”, “could”, “estimates”, “expects”, “plans”, “aims”, “intends”. of”, “may”, “plans”, “possible”, “potential”, “seeks”, “will” and variations of these words or similar expressions which are intended to identify forward-looking statements. Such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the completion, timing and expected gross proceeds of the IPO and the expected commencement of trading of PepGen’s stock on the Nasdaq Global Select Market.
All forward-looking statements contained in this press release are based on current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ. materially and unfavorably from those stated. in or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, market conditions and the satisfaction of customary closing conditions associated with the IPO. Additional risks regarding PepGen’s programs and operations are described in detail in its registration statement on Form S-1, which is filed with the SEC. PepGen expressly disclaims any obligation to update forward-looking statements, except as required by law.
Contact Investor
Laurence Watts or Nick Colangelo
Gilmartin Group
Laurence@gilmartinir.com
Nick@gilmartinir.com
Media Contact
Gwendolyn Schanker
LifeSci Communications
(269) 921-3607
gschanker@lifescicomms.com