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Larimar Therapeutics Announces Closing of Underwritten Offering and Full Exercise of Option to Purchase Additional Shares
BALA CYNWYD, Pa., Sept. 16, 2022 (GLOBE NEWSWIRE) -- Larimar Therapeutics, Inc. (“Larimar” or the “Company”) (Nasdaq: LRMR), a clinical-stage biotechnology
About this update from Larimar Therapeutics, Inc.
[{"type":"text","content":"BALA CYNWYD, Pa., Sept. 16, 2022 (GLOBE NEWSWIRE) -- Larimar Therapeutics, Inc. (“Larimar” or the “Company”) (Nasdaq: LRMR), a clinical-stage biotechnology company focused on developing treatments for complex rare diseases, today announced the closing of its previously announced underwritten offering of 25,558,750 shares of common stock, which includes the exercise in full by the underwriters of their option to purchase an additional 3,333,750 shares at the offering price of $3.15 per share. The gross proceeds to Larimar, before deducting the underwriting discounts and commissions and estimated offering expenses, were approximately $80.5 million. Deerfield Management and other notable life science investors participated in the offering. Guggenheim Securities, LLC acted as lead book-running manager for the offering and William Blair & Company, L.L.C. also acted as a book-runner for the offering. LifeSci Capital LLC and JMP Securities, a Citizens Company, acted as co-managers for the offering. Larimar intends to use the net proceeds from the offering to support the clinical development of CTI-1601, and for working capital and general corporate purposes, including research and development expenses. The shares were offered by Larimar pursuant to an effective shelf registration statement on Form S-3 (File No. 333-246370). A final prospectus supplement relating to and describing the terms of the offering has been filed with the Securities and Exchange Commission (the “SEC”) and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus may also be obtained from the offices of Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison, 8th Floor, New York, NY 10017, via telephone at (212) 518-9544 or via email at [email protected]. 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 Larimar TherapeuticsLarimar Therapeutics, Inc. (Nasdaq: LRMR), is a clinical-stage biotechnology company focused on developing treatments for complex rare diseas...