Nuvalent prices $300M public offering of 5.36M shares at $56.00/share

Nuvalent, Inc.

Sold 5,357,143 shares at $56.00 each; gross proceeds ~$300M.
Net proceeds est. ~$281.6M (or ~$323.9M if underwriters exercise option for 803,571 additional shares).
Underwriters: J.P. Morgan, TD Cowen, Piper Sandler, BMO Capital Markets; close expected Oct 19, 2023.
Company expects net proceeds + existing cash to fund operations into 2027.

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

Nuvalent, Inc. entered into Underwriting Agreement with J.P. Morgan Securities LLC, Cowen and Company, LLC, Piper Sandler & Co. and BMO Capital Markets Corp., as representatives of the several underwriters (effective 2023-10-16).

Action: entry
Agreement: underwriting
Counterparty: J.P. Morgan Securities LLC, Cowen and Company, LLC, Piper Sandler & Co. and BMO Capital Markets Corp., as representatives of the several underwriters
Effective: 2023-10-16

Exact text from the filing

On October 16, 2023, Nuvalent, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with J.P. Morgan Securities LLC, Cowen and Company, LLC, Piper Sandler & Co. and BMO Capital Markets Corp., as representatives of the several underwriters (the “Underwriters”), relating to an underwritten public offering (the “Offering”) of 5,357,143 shares (the “Shares”) of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”).

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273 material agreements filed in the last 30 days. Browse all material agreements →

Nuvalent, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-257651

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