Cogent Biosciences prices 9.7M share offering at $31 and $230M 1.625% convertible notes due 2031 for ~$475M net

Cogent Biosciences, Inc.

Equity offering of 9,677,420 shares at $31.00 per share, upsized from $200M, with underwriters exercising over-allotment for additional 1,451,613 shares.
Convertible notes offering of $200M aggregate principal (upsized to $230M) of 1.625% senior notes due 2031, conversion premium ~45% above equity offering price.
Combined net proceeds expected ~$475.3M, to be used to repay $50M term loan and fund development/commercialization of bezuclastinib.
Offerings led by J.P. Morgan, Jefferies, Leerink Partners, and Guggenheim Securities for equity; Jefferies and J.P. Morgan for notes.

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