Karuna Therapeutics Announces Pricing of Public Offering of Common Stock
22 March 2023 - 11:22AM
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 the pricing of an
underwritten public offering of 2,479,391 shares of its common
stock at a public offering price of $161.33 per share. The gross
proceeds to Karuna from the offering, before deducting the
underwriting discounts and commissions and other estimated offering
expenses, are expected to be approximately $400.0 million. The
offering is expected to close on or about March 24, 2023, subject
to customary closing conditions. In addition, Karuna has granted
the underwriters a 30-day option to purchase up to an additional
371,908 shares of common stock. All the shares in the offering are
being 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. Stifel, Nicolaus & Company, Inc. and
Guggenheim Securities, LLC are also acting as book-running managers
for 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 relating to and describing the
terms of the offering has been filed with the SEC and is available
on the SEC’s website at www.sec.gov.
When available, copies of the final 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; Morgan
Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, New York 10014; Stifel, Nicolaus &
Company, Incorporated, Attention: Prospectus Department, One
Montgomery Street, Suite 3700, San Francisco, CA 94104 or by
telephone at (415) 364-2720 or by email at
syndprospectus@stifel.com; or Guggenheim Securities, LLC,
Attention: Equity Syndicate Department, 330 Madison Avenue, 8th
Floor, New York, New York 10017, or by telephone at (212) 518-9544
or by email at
GSEquityProspectusDelivery@guggenheimpartners.com.
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 timing and completion of
the 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 and
the satisfaction of customary closing conditions for an offering of
securities. 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/20230321006020/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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