Cambridge-based clinical-stage genome editing company, Editas Medicine, Inc. (Nasdaq: EDIT), has announced the pricing of an underwritten offering of 12,500,000 shares of its common stock at a public offering price of $10.00 per share. After deducting underwriter discounts, commissions, and estimated offering expenses, the gross proceeds from the offering are expected to be approximately $125 million. Editas Medicine has also granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of common stock under the same terms. The offering is anticipated to close around June 20, 2023, subject to customary closing conditions.
J.P. Morgan Securities LLC, Cowen and Company, LLC, and Evercore Group L.L.C. are acting as joint book-running managers for the offering.
Editas Medicine filed an automatically effective shelf registration statement for the offering with the Securities and Exchange Commission (SEC) on March 1, 2021. The offering is being conducted through a prospectus and prospectus supplement, which form part of the registration statement. A preliminary prospectus describing the terms of the offering has been filed with the SEC and can be accessed at www.sec.gov. A final prospectus supplement will also be filed with the SEC. Interested parties can obtain copies of the final prospectus supplement by contacting J.P. Morgan Securities LLC, Cowen and Company, LLC, or Evercore Group L.L.C. using the provided contact information.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, and the sale of these securities is subject to the registration or qualification requirements under applicable securities laws.
As a clinical-stage genome editing company, Editas Medicine focuses on harnessing the potential of CRISPR/Cas12a and Cas9 genome editing systems to develop a pipeline of treatments for serious diseases worldwide. The company aims to discover, develop, manufacture, and commercialize transformative genomic medicines with precision and durability. Editas Medicine holds exclusive licenses for human medicines related to the Cas12a patent estate of the Broad Institute and the Cas9 patent estates of Broad Institute and Harvard University.
This press release includes forward-looking statements and information, subject to various factors that may cause actual results or events to differ materially from the disclosed plans, intentions, and expectations. Factors that could impact the offering include customary closing conditions, economic conditions, and industry or political factors in the United States and internationally. The initiation and progress of preclinical studies and clinical trials, availability and timing of results, regulatory approvals, and funding availability are among the other factors that may affect Editas Medicine’s operations. Detailed risks and factors are outlined in Editas Medicine’s filings with the SEC. The company disclaims any obligation to update forward-looking statements, which speak only as of the date of this press release.
