Omega Therapeutics Announces $40 Million Registered Direct Offering of Common Stock
23 February 2023 - 11:00PM
Omega Therapeutics, Inc. (Nasdaq: OMGA) (“Omega”), a clinical-stage
biotechnology company pioneering the development of a new class of
programmable epigenetic mRNA medicines, today announced that it has
entered into a securities purchase agreement with investors in a
registered direct offering of 6,920,415 shares of common stock (the
“Shares”) at a purchase price of $5.78 per share, resulting in
gross proceeds of approximately $40 million. The offering included
participation by new and existing investors.
The offering is expected to close on February
27, 2023, subject to customary closing conditions. Since the
offering was made without an underwriter or a placement agent,
Omega will not be paying any underwriting discounts or placement
agent fees in connection with the offering.
The Shares were offered pursuant to a shelf
registration statement on Form S-3 (File No. 333-268254) that was
previously filed with the U.S. Securities and Exchange Commission
(the “SEC”) and declared effective by the SEC on November 18, 2022.
A final prospectus supplement, which contains additional
information relating to the offering, will be filed with the SEC
and will be available on the SEC’s website at www.sec.gov.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy the Shares, nor
shall there be any sale of the Shares in any state or other
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 other jurisdiction.
About Omega Therapeutics
Omega Therapeutics, founded by Flagship Pioneering, is a
clinical-stage biotechnology company pioneering the development of
a new class of programmable epigenetic mRNA medicines. The
Company's OMEGA platform harnesses the power of epigenetics, the
mechanism that controls gene expression and every aspect of an
organism's life from cell genesis, growth, and differentiation to
cell death. Using a suite of technologies, paired with Omega's
process of systematic, rational, and integrative drug design, the
OMEGA platform enables control of fundamental epigenetic processes
to correct the root cause of disease by returning aberrant gene
expression to a normal range without altering native nucleic acid
sequences. Omega's modular and programmable mRNA medicines, Omega
Epigenomic Controllers™, target specific epigenomic loci within
insulated genomic domains, EpiZips, from amongst thousands of
unique, mapped, and validated genome-wide DNA-sequences, with high
specificity to durably tune single or multiple genes to treat and
cure diseases through unprecedented precision epigenomic control.
Omega’s pipeline of product candidates span a range of disease
areas, including oncology, regenerative medicine, multigenic
diseases including immunology, and select monogenic diseases.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements contained in this press release
that do not relate to matters of historical fact should be
considered forward-looking statements, including without limitation
statements regarding the completion of the proposed offering, and
anticipated proceeds of the proposed offering. These statements are
neither promises nor guarantees, but involve known and unknown
risks, uncertainties and other important factors that may cause our
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements, including
the risks discussed under the caption "Risk Factors" in our most
recent Quarterly Report on Form 10-Q and our Annual Report on Form
10-K for the year ended December 31, 2021, and our other filings
with the SEC, could cause actual results to differ materially from
those indicated by the forward-looking statements made in this
press release. Any such forward-looking statements represent
management's estimates as of the date of this press release. While
we may elect to update such forward-looking statements at some
point in the future, we disclaim any obligation to do so, even if
subsequent events cause our views to change.
CONTACT
Eva Stroynowski
Omega Therapeutics
617.949.4370
estroynowski@omegatx.com
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