Proteostasis Therapeutics Announces Closing of Follow-On Public Offering of Common Stock
September 14 2016 - 4:03PM
Proteostasis Therapeutics, Inc. (NASDAQ:PTI), a biopharmaceutical
company developing small molecule therapeutics to treat diseases
caused by dysfunctional protein processing such as cystic fibrosis,
today announced the closing of its follow-on public offering of
5,000,000 shares of its common stock at a public offering price of
$13.00 per share, before the underwriting discount. All of the
shares sold were offered by Proteostasis Therapeutics, Inc. The
gross proceeds from the offering are $65 million, before deducting
the underwriting discount and expenses associated with the offering
payable by the company. In addition, the company has granted the
underwriters a 30-day option to purchase up to an additional
750,000 shares of its common stock at the public offering price,
less the underwriting discount.
Leerink Partners and RBC Capital Markets acted
as joint book-running managers. H.C. Wainwright & Co. acted as
lead manager and Baird acted as co-manager.
A registration statement on Form S-1 relating to
the securities sold in the offering was declared effective by the
Securities and Exchange Commission on September 8, 2016. This
offering was made only by means of a prospectus. Copies of the
final prospectus relating to this offering may be obtained by
contacting: Leerink Partners LLC, c/o Attention: Syndicate
Department, One Federal Street, 37th Floor, Boston, MA 02110, or by
email at syndicate@leerink.com, or by phone at (800) 808-7525,
ext. 6142; or RBC Capital Markets, LLC, Attention: Equity
Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281,
Telephone: (877) 822-4089, Email: equityprospectus@rbccm.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, 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 any such
state or jurisdiction.
About Proteostasis Therapeutics,
Inc.
Proteostasis Therapeutics, Inc. is a
biopharmaceutical company dedicated to the discovery of
groundbreaking therapies to treat diseases caused by dysfunctional
protein processing, such as cystic fibrosis (CF). Headquartered in
Cambridge, MA, the Proteostasis Therapeutics team focuses on
identifying therapies that modulate the proteostasis imbalance in
cells and restore protein function.
Media Contact:
Katie Engleman, Pure Communications, Inc.
(910) 509-3977
katie@purecommunicationsinc.com
Investor Contact:
Luke Heagle, Pure Communications, Inc.
(910) 726-1372
luke@purecommunicationsinc.com
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