Centessa prices $100M ADS offering at $9.25; pro forma cash enables runway into mid-2026

Centessa Pharmaceuticals plc

Priced 10,810,810 ADSs at $9.25/ADS; gross proceeds ~$100M. Close expected Apr 26, 2024.
Net proceeds estimated at $93.5M (or $107.6M if over-allotment exercised).
Underwriters granted 30-day option to purchase up to 1,621,621 additional ADSs.
Preliminary cash, equivalents & ST investments at Mar 31, 2024: $230.2M.
Proceeds to fund product candidate development and general corporate purposes; runway extended into mid-2026.

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

Centessa Pharmaceuticals plc entered into "Underwriting Agreement" with Goldman Sachs & Co. LLC and Leerink Partners LLC, as representatives of the underwriters named therein (effective 2024-04-23).

Action: entry
Agreement: underwriting
Counterparty: Goldman Sachs & Co. LLC and Leerink Partners LLC, as representatives of the underwriters named therein
Effective: 2024-04-23

Exact text from the filing

On April 23, 2024, Centessa Pharmaceuticals plc (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Goldman Sachs & Co. LLC and Leerink Partners LLC, as representatives (the “Representatives”) of the underwriters named therein (the “Underwriters”), pursuant to which the Company agreed to issue and sell an aggregate of 10,810,810 American Depositary Shares (the “ADSs”), each presenting one ordinary share, with a nominal value £0.002 per share (the “Ordinary Share”), of the Company (the “Firm ADSs”), at a price to the public of $9.25 per ADS (the “Offering”).

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Centessa Pharmaceuticals plc filing history →

Source: SEC EDGAR

accession 0001193125-24-108717

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