Karuna Therapeutics Announces Closing of Public Offering and Full Exercise of Option to Purchase Additional Shares
25 March 2023 - 7:01AM
Business Wire
Karuna Therapeutics, Inc. (NASDAQ: KRTX) (“Karuna”), a
clinical-stage biopharmaceutical company driven to create and
deliver transformative medicines for people living with psychiatric
and neurological conditions, today announced the closing of its
previously announced underwritten public offering of 2,851,299
shares of common stock, which includes the exercise in full by the
underwriters of their option to purchase an additional 371,908
shares, at the public offering price of $161.33 per share. Gross
proceeds to Karuna in the offering, before underwriting discounts
and estimated expenses of the offering, were approximately $460.0
million.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and
Morgan Stanley & Co. LLC acted as joint book-running managers
for the offering. Stifel, Nicolaus & Company, Incorporated and
Guggenheim Securities, LLC also acted as book-running managers for
the offering.
The shares were offered by Karuna pursuant to an effective shelf
registration statement that was previously filed with the
Securities and Exchange Commission (“SEC”). A 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.
Copies of the prospectus supplement and the accompanying prospectus
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230324005369/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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