Precision BioSciences Announces Closing of IPO
Duke start-up, Precision BioSciences, has closed its initial public offering of 9,085,000 shares of common stock at a public offering price of $16.00 per share, for total gross proceeds of approximately $145.4 million.
This includes the full exercise of the underwriters’ option to purchase 1,185,000 additional shares of common stock. On March 28, Precision’s shares began trading on the Nasdaq Global Select Market under the ticker symbol “DTIL.”
Precision BioSciences is dedicated to improving life through its proprietary genome editing platform, “ARCUS.” Precision leverages ARCUS in the development of its product candidates, which are designed to treat human diseases and create healthy and sustainable food and agriculture solutions. Precision is actively developing product candidates in three innovative areas: allogeneic CAR T immunotherapy, in vivo gene correction, and food.
Press Release
Precision BioSciences (Nasdaq:DTIL) (“Precision”), a genome editing company dedicated to improving life ( DTIL ) through its proprietary ARCUS genome editing platform, today announced the closing of its initial public offering of 9,085,000 shares of common stock, which includes the full exercise of the underwriters’ option to purchase 1,185,000 additional shares of common stock, at a public offering price of $16.00 per share.
The total gross proceeds to Precision were approximately $145.4 million, before deducting underwriting discounts and commissions and expenses payable by Precision. All of the shares were sold by Precision. The shares commenced trading on the Nasdaq Global Select Market under the ticker symbol “DTIL” on Thursday, March 28, 2019.
J.P. Morgan, Goldman Sachs & Co. LLC, Jefferies and Barclays acted as joint book-running managers for the offering.
A registration statement relating to the securities sold in this offering was declared effective by the Securities and Exchange Commission on March 27, 2019. The offering was made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained by contacting: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (866) 803-9204 or email: prospectus-eq_fi@jpmchase.com
[Originally posted by Nasdaq— April 1, 2019]