Business
Cogent Biosciences Announces Closing of Upsized Public Offering of Common Stock
WALTHAM, Mass. and BOULDER, Colo., June 09, 2023 (GLOBE NEWSWIRE) -- Cogent Biosciences, Inc. (Nasdaq: COGT), a biotechnology company focused on developing
About this update from Cogent Biosciences, Inc.
[{"type":"text","content":"WALTHAM, Mass. and BOULDER, Colo., June 09, 2023 (GLOBE NEWSWIRE) -- Cogent Biosciences, Inc. (Nasdaq: COGT), a biotechnology company focused on developing precision therapies for genetically defined diseases, today announced the closing of its previously announced upsized underwritten public offering of 12,500,000 shares of its common stock. The public offering price of each share of common stock was $12.00. The aggregate gross proceeds to Cogent from this offering were approximately $150 million, before deducting underwriting discounts and commissions and other estimated offering expenses. In addition, Cogent has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of its common stock at the public offering price less underwriting discounts. Cogent intends to use net proceeds from the offering for development, regulatory and commercial preparation activities relating to bezuclastinib and other product candidates, as well as for working capital and general corporate purposes. J.P. Morgan, Jefferies, Piper Sandler & Co. and Guggenheim Securities, LLC acted as joint book-running managers for the offering. LifeSci Capital also acted as lead manager for the offering. The securities described above were offered pursuant to an automatic shelf registration statement (File No. 333-269707) filed with the Securities and Exchange Commission (SEC) on February 10, 2023. A final prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering has been filed with the SEC and may be obtained from the SEC’s website at www.sec.gov, or by request to J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204, or by email at [email protected]; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022, or by telephone at 877-821-7388, or by email at [email protected]; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, or by telephone at (800) 747-3924, or by email at [email protected]; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison, New York, New York 10017, or by telephone at 212 518-9544, or by ...