Business
Disc Medicine Announces Closing of Public Offering of Common Stock and Pre-Funded Warrants Including Full Exercise of Underwriters’ Option to Purchase Additional Shares
WATERTOWN, Mass., June 22, 2023 (GLOBE NEWSWIRE) -- Disc Medicine, Inc. (NASDAQ: IRON) (Disc), a clinical-stage biopharmaceutical company focused on the
About this update from Disc Medicine, Inc.
[{"type":"text","content":"WATERTOWN, Mass., June 22, 2023 (GLOBE NEWSWIRE) -- Disc Medicine, Inc. (NASDAQ: IRON) (Disc), a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases, today announced the closing of its underwritten public offering of 3,015,919 shares of its common stock and, in lieu of common stock to certain investors that so chose, pre-funded warrants to purchase 204,081 shares of its common stock. The shares of common stock sold include 420,000 shares pursuant to the option granted by Disc to the underwriters, which option was exercised in full. The shares of common stock were sold at a public offering price of $49.00 per share, and the pre-funded warrants were sold at a public offering price of $48.9999 per pre-funded warrant, which represents the per share public offering price for the common stock less the $0.0001 per share exercise price for each such pre-funded warrant. The aggregate gross proceeds to Disc from this offering were approximately $157.8 million, before deducting underwriting discounts and commissions and other estimated offering expenses, excluding the exercise of any pre-funded warrants. All of the securities sold in the offering were offered by Disc. Disc intends to use the net proceeds from the offering to fund research and clinical development of its current or additional product candidates, as well as for working capital and other general corporate purposes. Morgan Stanley, SVB Securities, Stifel and BMO Capital Markets acted as joint book-running managers for the offering. Wedbush PacGrow acted as lead manager for the offering. The securities described above were offered by Disc pursuant to a shelf registration statement on Form S-3 (No. 333-269272) that was declared effective by the Securities and Exchange Commission (SEC) on January 24, 2023. This offering was made only by means of a prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement and accompanying prospectus related to the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may also be obtained, by contacting: Morgan Stanley & Co. LLC, Att...