CAMBRIDGE, Mass.–(BUSINESS WIRE)–Scholar Rock Holding Company (Nasdaq: SRRK), a late-stage biopharmaceutical firm targeted on advancing revolutionary therapies for spinal muscular atrophy (SMA), cardiometabolic problems, and different critical illnesses the place protein progress elements play a elementary function, at the moment introduced the pricing of an upsized underwritten public providing of 10,265,488 shares of its widespread inventory at a public providing worth of $28.25 per share and, in lieu of widespread inventory to traders who so select, pre-funded warrants to buy 353,983 shares of widespread inventory at a public providing worth of $28.2499 per pre-funded warrant, which represents the per share public providing worth for the shares of widespread inventory much less the $0.0001 per share train worth for every pre-funded warrant. The entire shares and pre-funded warrants are being supplied by Scholar Rock. The providing is predicted to shut on October 10, 2024, topic to the satisfaction of customary closing situations. As well as, Scholar Rock has granted the underwriters a 30-day choice to buy as much as a further 1,592,920 shares of widespread inventory on the public providing worth, much less the underwriting reductions and commissions.
The gross proceeds from the providing, earlier than deducting the underwriting reductions and commissions and providing bills payable by Scholar Rock and assuming no train of the pre-funded warrants, are anticipated to be roughly $300 million. Scholar Rock intends to make use of the online proceeds from the providing to help commercialization of apitegromab, to advance its ongoing and future scientific packages, to additional develop its know-how platform to proceed to advance its scientific and preclinical pipeline, and for working capital and different normal company functions.
J.P. Morgan Securities LLC, Jefferies and Piper Sandler & Co. are performing as joint book-running managers for the providing. BMO Capital Markets Corp., Wedbush Securities Inc. and Raymond James & Associates, Inc. are performing as co-managers for the providing.
An mechanically efficient shelf registration assertion on Type S-3 regarding the providing of the shares of widespread inventory and pre-funded warrants described above was filed with the Securities and Alternate Fee (SEC) on October 7, 2024. A preliminary prospectus complement and accompanying prospectus regarding the providing had been filed with the SEC on October 7, 2024, and can be found on the SEC’s web site situated at www.sec.gov. A duplicate of the ultimate prospectus complement and accompanying prospectus regarding the providing can be filed with the SEC and could also be obtained, when out there, by contacting: J.P. Morgan Securities LLC, c/o: Broadridge Monetary Options (NYSE:), 1155 Lengthy Island Avenue, Edgewood, NY 11717, or by electronic mail at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; Jefferies LLC, Consideration: Fairness Syndicate Prospectus Division, 520 Madison Avenue, New York, NY 10022, by phone at 877-821-7388, or by electronic mail at prospectus_department@jefferies.com; or Piper Sandler & Co., 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Consideration: Prospectus Division, by phone at 800-747-3924, or by electronic mail at prospectus@psc.com.
This press launch doesn’t represent a proposal to promote or the solicitation of a proposal to purchase these securities, nor shall there be any sale of those securities in any state or jurisdiction wherein such provide, solicitation or sale could be illegal previous to registration or qualification beneath the securities legal guidelines of that state or jurisdiction.
About Scholar Rock
Scholar Rock is a biopharmaceutical firm that discovers, develops, and delivers life-changing therapies for folks with critical illnesses which have excessive unmet want. As a world chief within the biology of the remodeling progress issue beta (TGFβ) superfamily of cell proteins and named for the visible resemblance of a scholar rock to protein buildings, the clinical-stage firm is targeted on advancing revolutionary therapies the place protein progress elements are elementary. Over the previous decade, Scholar Rock has created a pipeline with the potential to advance the usual of take care of neuromuscular illness, cardiometabolic problems, most cancers, and different situations the place progress factor-targeted medicine can play a transformational function.
This dedication to unlocking essentially completely different therapeutic approaches is powered by broad software of a proprietary platform, which has developed novel monoclonal antibodies to modulate protein progress elements with extraordinary selectivity. By harnessing cutting-edge science in illness areas which can be traditionally under-addressed by means of conventional therapies, Scholar Rock works daily to create new potentialities for sufferers.
Scholar Rock ® is a registered trademark of Scholar Rock, Inc.
Ahead-Wanting Statements
This press launch comprises forward-looking statements inside the which means of the Non-public Securities Litigation Reform Act of 1995, together with, however not restricted to, statements relating to the anticipated time limit of the providing and the anticipated use of proceeds from the providing. The usage of phrases comparable to might, would possibly, will, ought to, count on, plan, anticipate, imagine, estimate, challenge, intend, future, potential, or proceed, and different comparable expressions are supposed to establish such forward-looking statements. All such forward-looking statements are based mostly on administration’s present expectations of future occasions and are topic to a lot of dangers and uncertainties that might trigger precise outcomes to vary materially and adversely from these set forth in or implied by such forward-looking statements. These dangers and uncertainties embody fluctuations in Scholar Rock’s inventory worth, modifications in market situations and satisfaction of customary closing situations associated to the general public providing and people dangers extra totally mentioned within the part entitled “Risk Factors” in Scholar Rock’s Quarterly Report on Type 10-Q for the quarter ended June 30, 2024, in addition to discussions of potential dangers, uncertainties, and different necessary elements in Scholar Rock’s subsequent filings with the SEC. Any forward-looking statements characterize Scholar Rock’s views solely as of at the moment and shouldn’t be relied upon as representing its views as of any subsequent date. All info on this press launch is as of the date of the discharge, and Scholar Rock undertakes no obligation to replace this info until required by regulation.
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Scholar Rock:
Buyers
Rushmie Nofsinger
Scholar Rock
rnofsinger@scholarrock.com
ir@scholarrock.com
857-259-5573
Media
Molly MacLeod
Scholar Rock
mmacleod@scholarrock.com
media@scholarrock.com
802-579-5995
Supply: Scholar Rock
