Scholar Rock Announces Closing of Public Offering and Full Exercise of Option to Purchase Additional Shares
17 October 2023 - 7:15AM
Business Wire
Scholar Rock Holding Corporation (Nasdaq: SRRK), a Phase 3
clinical-stage biopharmaceutical company focused on the treatment
of serious diseases in which protein growth factors play a
fundamental role, today announced the closing of its previously
announced underwritten public offering of 14,270,074 shares of
common stock, which includes the exercise in full by the
underwriters of their option to purchase an additional 1,861,314
shares, at the public offering price of $6.85 per share. Gross
proceeds to Scholar Rock in the offering, before underwriting
discounts and estimated expenses of the offering, were
approximately $97.8 million.
J.P. Morgan Securities LLC and Piper Sandler & Co. acted as
joint book-running managers for the offering. BMO Capital Markets
Corp. and Wedbush Securities Inc. acted as co-managers for the
offering.
The securities described above are being offered by Scholar Rock
pursuant to a shelf registration statement on Form S-3 (No.
333-268329) that was declared effective by the Securities and
Exchange Commission (SEC) on November 25, 2022. A prospectus
supplement describing the terms of the offering has been filed with
the SEC and is available on the SEC’s website located at
www.sec.gov. A copy of the final prospectus supplement and
accompanying prospectus relating to the securities may also be
obtained, by contacting: J.P. Morgan Securities LLC, c/o:
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, by telephone at 866-803-9204 or by email at
prospectus-eq_fi@jpmchase.com; or Piper Sandler & Co., 800
Nicollet Mall, J12S03, Minneapolis, MN 55402, Attention: Prospectus
Department, by telephone at 800-747-3924 or by email at
prospectus@psc.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that
state or jurisdiction.
About Scholar Rock
Scholar Rock is a clinical-stage biopharmaceutical company
focused on the discovery and development of innovative medicines
for the treatment of serious diseases in which signaling by protein
growth factors plays a fundamental role. Scholar Rock is creating a
pipeline of novel product candidates with the potential to
transform the lives of patients suffering from a wide range of
serious diseases, including neuromuscular disorders, cancer, and
fibrosis. Scholar Rock’s approach to targeting the molecular
mechanisms of growth factor activation enabled it to develop a
proprietary platform for the discovery and development of
monoclonal antibodies that locally and selectively target these
signaling proteins at the cellular level. By developing product
candidates that act in the disease microenvironment, the Company
intends to avoid the historical challenges associated with
inhibiting growth factors for therapeutic effect. Scholar Rock
believes its focus on biologically validated growth factors may
facilitate a more efficient development path.
Scholar Rock® is a registered trademark of Scholar Rock,
Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20231016698289/en/
Scholar Rock: Investors Rushmie Nofsinger Scholar
Rock rnofsinger@scholarrock.com ir@scholarrock.com 857-259-5573
Media Molly MacLeod Scholar Rock mmacleod@scholarrock.com
media@scholarrock.com 802-579-5995
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