Scholar Rock Announces Pricing of Initial Public Offering
24 May 2018 - 11:52AM
Scholar Rock (NASDAQ:SRRK), a 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, today announced the pricing of
its initial public offering of 5,360,000 shares of its common stock
at a public offering price of $14.00 per share. All of the
shares are being offered by Scholar Rock. In addition,
Scholar Rock has granted the underwriters a 30-day option to
purchase up to 804,000 additional shares of common stock at the
initial public offering price, less underwriting discounts and
commissions.
The gross proceeds from the offering, before deducting
underwriting discounts and commissions and offering expenses
payable by Scholar Rock, are expected to be approximately $75.0
million, excluding any proceeds from the exercise of the
underwriters’ option to purchase additional shares. Scholar
Rock’s common stock is expected to begin trading on the Nasdaq
Global Select Market under the ticker symbol “SRRK” on May 24,
2018. The offering is expected to close on May 29, 2018
subject to customary closing conditions.
Jefferies LLC, Cowen and Company, LLC, and BMO Capital Markets
Corp. are acting as joint book-running managers for the offering.
Wedbush Securities Inc. is acting as co-manager for the
offering.
A registration statement relating to these securities was filed
with, and was declared effective by, the Securities and Exchange
Commission on May 23, 2018. This offering is being made only
by means of a prospectus. When available, a copy of the final
prospectus relating to the offering may be obtained from: Jefferies
LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-547-6340
or by email at Prospectus_Department@Jefferies.com; Cowen and
Company, LLC (c/o Broadridge Financial Solutions, Attention
Prospectus Department, 1155 Long Island Avenue, Edgewood, NY,
11717; telephone: 631-274-2806); or BMO Capital Markets Corp.,
Attention: Equity Syndicate Department, 3 Times Square, 25th Floor,
New York, NY 10036, by telephone at (800) 414-3627, or by email at
bmoprospectus@bmo.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 RockScholar Rock is a
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 Contact:Investors/MediaCatherine
Huchu@scholarrock.com917-601-1649
Media Contact:The Yates NetworkKathryn
Morriskathryn@theyatesnetwork.com914-204-6412
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