Madrigal raises ~$574M in public offering for Rezdiffra launch

MADRIGAL PHARMACEUTICALS, INC.

Offering of 750,000 shares at $260/share and 1,557,692 pre-funded warrants at $259.9999 each.
Net proceeds estimated at ~$574M; underwriters have 30-day option for up to 346,153 additional shares.
Proceeds to fund commercial launch of Rezdiffra (resmetirom) in the U.S. and for general corporate purposes.
Closing expected March 21, 2024; lock-up agreements for directors and officers for 60 days.
Underwriters include Goldman Sachs, Jefferies, Cowen, Evercore, Piper Sandler.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

MADRIGAL PHARMACEUTICALS, INC. entered into Underwriting Agreement with Goldman Sachs & Co. LLC, Jefferies LLC, Cowen and Company, LLC, Evercore Group L.L.C. and Piper Sandler & Co valued at approximately $574.0 million (effective 2024-03-18).

Action: entry
Agreement: underwriting
Counterparty: Goldman Sachs & Co. LLC, Jefferies LLC, Cowen and Company, LLC, Evercore Group L.L.C. and Piper Sandler & Co
Value: approximately $574.0 million
Effective: 2024-03-18

Exact text from the filing

On March 18, 2024, Madrigal Pharmaceuticals, Inc. (the “Company”) entered into an Underwriting Agreement (the “Underwriting Agreement”) with Goldman Sachs & Co. LLC, Jefferies LLC, Cowen and Company, LLC, Evercore Group L.L.C. and Piper Sandler & Co, as representatives of the several underwriters named therein (the “Underwriters”), for the sale of (i) 750,000 shares of common stock (the “Shares”) of the Company, $0.0001 par value per share (the “Common Stock”), and (ii) pre-funded warrants (the “Pre-Funded Warrants”) to purchase 1,557,692 shares of Common Stock in an underwritten public offering (the “Offering”).

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MADRIGAL PHARMACEUTICALS, INC. filing history →

Source: SEC EDGAR

accession 0001193125-24-072706

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