Karuna Therapeutics Announces Proposed Public Offering of Common Stock
21 March 2023 - 7:43AM
Business Wire
Karuna Therapeutics, Inc. (NASDAQ: KRTX), a clinical-stage
biopharmaceutical company driven to create and deliver
transformative medicines for people living with psychiatric and
neurological conditions, today announced that it has commenced an
underwritten public offering of $400.0 million of its common stock.
Karuna also intends to grant the underwriters a 30-day option to
purchase an additional $60.0 million of its common stock. All the
shares in the proposed offering are to be sold by Karuna.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and
Morgan Stanley & Co. LLC are acting as joint book-running
managers for the offering. The offering is subject to market and
other conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or
terms of the offering.
The shares are being offered by Karuna pursuant to an effective
shelf registration statement that was previously filed with the
Securities and Exchange Commission (“SEC”). The offering is being
made only by means of a written prospectus and prospectus
supplement that form a part of the registration statement. A
preliminary prospectus supplement and accompanying prospectus
relating to and describing the terms of the offering will be filed
with the SEC and will be available on the SEC’s website at
www.sec.gov.
When available, copies of the preliminary prospectus supplement
relating to these securities may also be obtained from the offices
of Goldman Sachs & Co. LLC, Attention: Prospectus Department,
200 West Street, New York, NY 10282, or by telephone at (866)
471-2526, or by email at prospectus-ny@ny.email.gs.com; J.P. Morgan
Securities LLC, Attention: Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, or by telephone at (866)
803-9204, or by email at prospectus-eq_fi@jpmchase.com; or Morgan
Stanley & Co. LLC, 180 Varick St, 2nd Floor, New York, NY
10014. The final terms of the offering will be disclosed in a final
prospectus supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any offer or sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction.
About Karuna Therapeutics
Karuna Therapeutics is a clinical-stage biopharmaceutical
company driven to create and deliver transformative medicines for
people living with psychiatric and neurological conditions.
Forward Looking Statements
This press release contains forward looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including among other things, the size and completion of
the proposed public offering, and other statements identified by
words such as “could,” “expects,” “intends,” “may,” “plans,”
“potential,” “should,” “will,” “would,” or similar expressions and
the negatives of those terms. Forward-looking statements are not
promises or guarantees of future performance, and are subject to a
variety of risks and uncertainties, many of which are beyond our
control. Actual results could differ materially from those
anticipated in such forward-looking statements as a result of
various risks and uncertainties, which include, without limitation,
market risks, the final terms of the offering, and uncertainties
and the satisfaction of customary closing conditions for an
offering of securities. There can be no assurance that Karuna will
be able to complete the public offering on the anticipated terms,
or at all. These and other risks are described under the heading
“Risk Factors” in Karuna’s most recent Annual Report on Form 10-K
filed with the SEC and in other filings that Karuna makes with the
SEC. Karuna’s actual results could differ materially from the
results described in or implied by such forward-looking statements.
Forward-looking statements speak only as of the date hereof, and,
except as required by law, Karuna undertakes no obligation to
update or revise these forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20230320005664/en/
Investors: Alexis Smith +1 (518) 338-8990
asmith@karunatx.com
Media: Bob Josefsberg +1 (646) 734-3584
bjosefsberg@karunatx.com
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