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Madrigal Pharmaceuticals Announces Secondary Offering of 1,200,000 Shares of Common Stock
CONSHOHOCKEN, Pa., Dec. 10, 2019 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL) (“Madrigal” or the “Company”), a clinical-stage
About this update from Madrigal Pharmaceuticals, Inc.
[{"type":"text","content":"CONSHOHOCKEN, Pa., Dec. 10, 2019 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL) (“Madrigal” or the “Company”), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases, today announced the commencement of an underwritten secondary offering of 1,200,000 shares of Madrigal’s common stock by investment funds affiliated with Bay City Capital LLC. In connection with the offering, the selling stockholders intend to grant the underwriter an option, exercisable for 30 days after the date of entry into the underwriting agreement related to the offering, to purchase up to 180,000 additional shares of common stock, at the public offering price, less underwriting discounts, from the selling stockholders. Madrigal is not issuing or offering any shares of common stock in the offering and will not receive any proceeds from the sale of shares in the offering.\n Goldman Sachs & Co. LLC is acting as the sole book running-manager for the offering. The offering of these securities is being made pursuant to an effective shelf registration statement on Form S-3 that was previously filed with and declared effective by the Securities and Exchange Commission (SEC) on June 5, 2018 and only by means of a prospectus and prospectus supplement. When available, investors may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus supplement and the accompanying prospectus relating to these securities, when available, may also be obtained by contacting: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316, or by emailing [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 the registration or qualification under the securities laws of such state or jurisdiction. About Madrigal Pharmaceuticals, Inc. Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL) is a clinical-stage biopharmaceutical company pursuing novel therapeutics that target a specif...