Summit Therapeutics enters $90M ATM equity distribution agreement with JPMorgan

Summit Therapeutics Inc.

Up to $90M of common stock may be sold at-the-market through J.P. Morgan Securities LLC as sales agent.
Company has no obligation to sell any shares; sales at prevailing market prices or negotiated prices.
Sales agent commission is up to 3.0% of gross proceeds per share sold.
Offerings made under existing S-3 shelf registration (File No. 333-277169) declared effective Feb 27, 2024.

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

Summit Therapeutics Inc. entered into Distribution Agreement with J.P. Morgan Securities LLC valued at up to $90,000,000 (effective 2024-05-13).

Action: entry
Agreement: atm program
Counterparty: J.P. Morgan Securities LLC
Value: up to $90,000,000
Effective: 2024-05-13

Exact text from the filing

On May 13, 2024, Summit Therapeutics Inc. (the “Company”) entered into a distribution agreement (the “Distribution Agreement”) with J.P. Morgan Securities LLC (“Sales Agent”), as sales agent, pursuant to which the Company may offer and sell, from time to time, through the Sales Agent, shares of the Company’s common stock, par value $0.01 per share, having an aggregate offering price of up to $90,000,000 (the “Shares”).

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Summit Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001599298-24-000089

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