Business
Prelude Therapeutics Announces Pricing of Public Offering
WILMINGTON, Del., May 18, 2023 (GLOBE NEWSWIRE) -- Prelude Therapeutics Incorporated ("Prelude" or the "Company") (Nasdaq: PRLD), a clinical-stage precision
About this update from Prelude Therapeutics Incorporated
[{"type":"text","content":"WILMINGTON, Del., May 18, 2023 (GLOBE NEWSWIRE) -- Prelude Therapeutics Incorporated (\"Prelude\" or the \"Company\") (Nasdaq: PRLD), a clinical-stage precision oncology company, today announced the pricing of its underwritten public offering of 3,048,522 shares of its voting common stock and 1,448,222 shares of its non-voting common stock, each at a price to the public of $5.75 per share, and, in lieu of common stock to investors who so choose, pre-funded warrants to purchase up to an aggregate of 12,895,256 shares of its common stock at a price to the public of $5.7499 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. In addition, Prelude has granted the underwriter a 30-day option to purchase up to an additional 2,608,800 shares of its common stock. Before deducting the underwriting discounts and commissions and estimated offering expenses, Prelude expects to receive total gross proceeds of approximately $100.0 million, assuming no exercise of the underwriter's option to purchase additional shares. The offering is expected to close on or about May 22, 2023, subject to the satisfaction of customary closing conditions. Morgan Stanley is acting as sole book-running manager for the offering. A registration statement on Form S-3 relating to these securities was filed with the Securities and Exchange Commission (\"SEC\") on November 12, 2021, and was declared effective by the SEC on November 24, 2021. The offering was made only by means of a preliminary prospectus supplement and accompanying prospectus, which was filed on May 17, 2023, relating to and describing the terms of the offering. A final prospectus supplement and accompanying prospectus relating to the offering will also be filed with the SEC. These documents can be obtained on the SEC's website at http://www.sec.gov. You can also obtain the final prospectus supplement and accompanying prospectus, when available, by contacting Morgan Stanley & Co. LLC, 180 Varick St, 2nd Floor, New York, NY 10014. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful ...