Business
Spyre Therapeutics Announces Pricing of $200 Million Public Offering of Common Stock
WALTHAM, Mass., Nov. 18, 2024 /PRNewswire/ -- Spyre Therapeutics, Inc. ("Spyre" or the "Company") (NASDAQ: SYRE), a clinical-stage biotechnology company
About this update from Spyre Therapeutics, Inc.
[{"type":"text","content":"WALTHAM, Mass., Nov. 18, 2024 /PRNewswire/ -- Spyre Therapeutics, Inc. (\"Spyre\" or the \"Company\") (NASDAQ: SYRE), a clinical-stage biotechnology company utilizing best-in-class antibody engineering, rational therapeutic combinations, and precision medicine approaches to target improved efficacy and convenience in the treatment of inflammatory bowel disease (\"IBD\"), today announced the pricing of its previously announced underwritten public offering of 7,275,000 shares of its common stock at a price to the public of $27.50 per share. The aggregate gross proceeds to the Company from this offering are expected to be $200.0 million, before deducting underwriting discounts and commissions and other offering expenses. In addition, the Company has granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 1,091,250 shares of the Company's common stock at the public offering price, less the underwriting discount.\nThe offering is expected to close on or about November 20, 2024, subject to satisfaction of customary closing conditions. Jefferies LLC, Goldman Sachs & Co. LLC, Evercore Group L.L.C., and Guggenheim Securities, LLC are acting as the joint book-running managers for the offering. LifeSci Capital LLC is acting as lead manager for the proposed offering.\nA registration statement on Form S-3 (File No. 333-281975) relating to these securities has been filed with the Securities and Exchange Commission (the \"SEC\") and became effective on September 18, 2024. This offering is being made solely by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov. When available, copies of the final prospectus supplement and the accompanying prospectus related to the offering may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388 or by email at [email protected]; Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by email at [email protected]; Evercore Gro...