Business
Scholar Rock Announces Closing of Public Offering of Common Stock and Prefunded Warrants and Full Exercise of Underwriters' Option to Purchase Additional Shares
CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Scholar Rock Holding Corporation (Nasdaq: SRRK), a clinical-stage biopharmaceutical company focused on the treatment of
About this update from Scholar Rock Holding Corporation
[{"type":"text","content":" CAMBRIDGE, Mass.--(BUSINESS WIRE)--\nScholar Rock Holding Corporation (Nasdaq: SRRK), a clinical-stage biopharmaceutical company focused on the treatment of serious diseases in which protein growth factors play a fundamental role, today announced the closing of its underwritten public offering of 3,717,948 shares of its common stock, and to certain investors in lieu thereof, pre-funded warrants to purchase 2,179,487 shares of its common stock at an exercise price of $0.0001 per share. The shares of common stock sold include 769,230 shares pursuant to the option granted by Scholar Rock to the underwriters, which option was exercised in full. The public offering price of each share of common stock was $39.00 and the public offering price of each pre-funded warrant was $38.9999 per pre-funded warrant. The aggregate gross proceeds to Scholar Rock from this offering were approximately $230 million, before deducting underwriting discounts and commissions and other estimated offering expenses.\n\nScholar Rock intends to use the net proceeds from the offering for clinical development of SRK-015 in Spinal Muscular Atrophy, including costs associated with preparing for and executing clinical trials, SRK-181 in cancer immunology, development of our preclinical and discovery programs, as well as for working capital and other general corporate purposes.\n\nJ.P. Morgan Securities LLC, Jefferies LLC and Credit Suisse Securities (USA) LLC acted as joint book-running managers for the offering. BMO Capital Markets Corp. acted as lead manager for the offering.\n\nThe securities described above were offered by Scholar Rock pursuant to a shelf registration statement on Form S-3 (No. 333-231920) that was declared effective by the Securities and Exchange Commission (SEC) on June 10, 2019 and the related registration statement on Form S-3 (File No. 333-249715) filed pursuant to Rule 462(b) under the Securities Act that became automatically effective upon filing on October 28, 2020. A copy of the final prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and may be obtained by contacting: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-866-803-9204 or by email at [email protected]; Jefferies LLC, Attention:...