Prelude Therapeutics enters $75M at-the-market stock offering agreement with Jefferies

Prelude Therapeutics Inc

Company entered Open Market Sale Agreement with Jefferies LLC to sell up to $75M of common stock.
Sales will be made 'at the market' under existing shelf registration statement (File No. 333-261019).
Jefferies receives up to 3.0% commission on gross proceeds; company not obligated to sell any shares.
Agreement terminates upon sale of all shares or earlier termination by either party.
Proceeds intended for general corporate purposes and working capital.

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

Prelude Therapeutics Inc entered into Sales Agreement with Jefferies LLC valued at up to $75.0 million (effective 2023-03-15).

Action: entry
Agreement: atm program
Counterparty: Jefferies LLC
Value: up to $75.0 million
Effective: 2023-03-15

Exact text from the filing

On March 15, 2023, Prelude Therapeutics Incorporated (the “Company”), entered into an Open Market Sale Agreement SM (the “Sales Agreement”) with Jefferies LLC, as sales agent and/or principal (“Jefferies”), pursuant to which the Company may offer and sell, from time to time to or through Jefferies, shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), having an aggregate offering price of up to $75.0 million (the “Shares”).

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Prelude Therapeutics Inc filing history →

Source: SEC EDGAR

accession 0001193125-23-071400

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