Insmed prices $650M stock offering of 12.6M shares; net ~$713.9M

INSMED Inc

Offering of 12,621,359 shares at $51.50/share; net proceeds to Insmed of ~$713.9M (incl. option exercise).
Underwriters exercised full 30-day option to purchase an additional 1,893,203 shares.
Proceeds to fund brensocatib R&D and pre-commercialization, ARIKAYCE commercialization, TPIP R&D.
Goldman Sachs, Leerink Partners, and J.P. Morgan are joint book-running managers; Morgan Stanley, Cantor, Stifel co-lead.
Offering expected to close May 31, 2024, subject to customary conditions.

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