BOSTON, March 28, 2024 (GLOBE NEWSWIRE) — Praxis Precision Medicines, Inc. (NASDAQ: PRAX), a clinical-stage biopharmaceutical firm translating genetic insights into the event of therapies for central nervous system (CNS) issues characterised by neuronal excitation-inhibition imbalance, right this moment introduced the pricing of its underwritten public providing of three,318,585 shares of its frequent inventory at a public providing value per share of $56.50 and, in lieu of shares of frequent inventory, pre-funded warrants to buy as much as an combination of 221,238 shares of frequent inventory at a purchase order value of $56.4999 per pre-funded warrant, which equals the general public providing value per share of the frequent inventory much less the $0.0001 per share train value of every pre-funded warrant. The gross proceeds from the providing are anticipated to be roughly $200 million, earlier than deducting underwriting reductions and commissions and estimated providing bills payable by Praxis. All shares and pre-funded warrants within the providing are being provided by Praxis. As well as, Praxis has granted the underwriters a 30-day choice to buy as much as 530,973 extra shares of frequent inventory on the public providing value, much less underwriting reductions and commissions. The providing is anticipated to shut on or about April 2, 2024, topic to market situations and the satisfaction of customary closing situations.
Piper Sandler, Guggenheim Securities and Truist Securities are performing as joint book-running managers for the providing. H.C. Wainwright & Co. and Needham & Firm are performing as co-lead managers for the providing.
The providing is being made pursuant to a shelf registration assertion on Kind S-3, together with a base prospectus, that was filed by Praxis with the Securities and Alternate Fee (SEC) on March 5, 2024 and declared efficient by the SEC on March 12, 2024. A preliminary prospectus complement associated to the providing was filed with the SEC on March 27, 2024. The ultimate prospectus complement associated to the providing will likely be filed with the SEC and will likely be accessible on the SEC’s web site at www.sec.gov. Copies of the ultimate prospectus complement and the accompanying base prospectus regarding the providing, when accessible, could also be obtained from: Piper Sandler & Co., 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Consideration: Prospectus Division, by phone at (800) 747-3924, or by e-mail at [email protected]; Guggenheim Securities, LLC, Consideration: Fairness Syndicate Division, 330 Madison Avenue, eighth Flooring, New York, NY 10017, by phone at (212) 518-9544, or by e-mail at [email protected]; or Truist Securities, Inc., Consideration: Prospectus Division, 3333 Peachtree Highway NE, ninth flooring, Atlanta, GA 30326, by phone at (800) 685-4786, or by e-mail at [email protected].
This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase, nor shall there be any sale of those securities in any state or jurisdiction wherein such a suggestion, solicitation or sale could be illegal previous to registration or qualification underneath the securities legal guidelines of any such state or jurisdiction.
Ahead-Wanting StatementsThis press launch accommodates forward-looking statements throughout the that means of The Personal Securities Litigation Reform Act of 1995 and different federal securities legal guidelines, together with categorical or implied statements concerning Praxis’ future expectations, plans and prospects, together with, with out limitation, statements concerning the timing of the completion, and anticipated gross proceeds, of the providing, in addition to different statements containing the phrases anticipate, consider, proceed, might, endeavor, estimate, anticipate, anticipate, intend, could, may, plan, potential, predict, undertaking, search, ought to, goal, will or would and related expressions that represent forward-looking statements underneath the Personal Securities Litigation Reform Act of 1995.
The categorical or implied forward-looking statements included on this press launch are solely predictions and are topic to quite a few dangers, uncertainties and assumptions, together with, with out limitation, dangers associated to market situations and different dangers described in Praxis’ Annual Report on Kind 10-Ok for the yr ended December 31, 2023 and different filings made with the SEC. Though Praxis’ forward-looking statements mirror the nice religion judgment of its administration, these statements are primarily based solely on info and elements presently recognized by Praxis. Because of this, you’re cautioned to not depend on these forward-looking statements. Any forward-looking assertion made on this press launch speaks solely as of the date on which it’s made. Praxis undertakes no obligation to publicly replace or revise any forward-looking assertion, whether or not because of new info, future developments or in any other case.
Investor Contact:Praxis Precision [email protected] Contact:Dan FerryLife Science [email protected]: Praxis Precision Medicines, Inc.
