Edgewise Therapeutics announces $240M underwritten offering of 21.8M shares at $11.00 each

Edgewise Therapeutics, Inc.

Gross proceeds ~$240M from offering of 21.8M shares at $11.00; closing expected Jan 23, 2024.
Proceeds to fund potential U.S. commercial launch of EDG-5506 in Becker MD, Phase 3 in Duchenne, Phase 2 trials of EDG-7500 in hypertrophic cardiomyopathy.
New investors include RA Capital, TCGX, Venrock; existing investors Cormorant, Deerfield, Frazier, Janus, Novo, Orbimed, Perceptive, Surveyor.
Combined cash, equivalents, and proceeds expected to exceed $500M, funding operations into 2027.
Leerink Partners and Wedbush PacGrow acted as joint book-running managers.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Edgewise Therapeutics, Inc. entered into Underwriting Agreement with Leerink Partners LLC, as representative of the underwriters valued at approximately $240.0 million (effective 2024-01-19).

Action: entry
Agreement: underwriting
Counterparty: Leerink Partners LLC, as representative of the underwriters
Value: approximately $240.0 million
Effective: 2024-01-19

Exact text from the filing

On January 19, 2024, Edgewise Therapeutics, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Leerink Partners LLC, as representative of the underwriters listed therein (the “Underwriters”), relating to the issuance and sale in an underwritten registered direct offering (the “Registered Direct Offering”) by the Company of 21,818,182 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at an offering price of $11.00 per share. Gross proceeds from the Registered Direct Offering before deducting underwriting discounts and commissions and other offering expenses are expected to be approximately $240.0 million.

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Edgewise Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-005031

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