Proteostasis Therapeutics Announces Pricing of Public Offering of Common Stock
September 09 2016 - 7:30AM
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 pricing 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
common stock is being offered by Proteostasis Therapeutics, Inc. 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. The
offering is expected to close on September 14, 2016 subject to
customary closing conditions.
Leerink Partners and RBC Capital Markets are acting as joint
book-running managers. H.C. Wainwright & Co. is acting as lead
manager and Baird is acting as co-manager.
A registration statement on Form S-1 relating to the securities
being sold in the offering was declared effective by the Securities
and Exchange Commission on September 8, 2016. This offering is
being made only by means of a prospectus. Copies of the final
prospectus relating to this offering may be obtained, when
available, by contacting: Leerink Partners LLC, 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.
Forward-Looking StatementsThis release contains
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
about the timing of the closing. Any forward-looking statements are
based on management’s current expectations of future events and are
subject to a number of risks and uncertainties that could cause
actual results to differ materially and adversely from those set
forth in or implied by such forward-looking statements. For a
discussion of risks and uncertainties, and other important factors,
any of which could cause our actual results to differ from those
contained in the forward-looking statements, see the section
entitled “Risk Factors” in our most recent Annual Report on Form
10-K or the fiscal year ended December 31, 2015 and our Quarterly
Report on Form 10-Q for the quarter ended June 30, 2016, the
preliminary prospectus related to the public offering, as well as
discussions of potential risks, uncertainties, and other important
factors in our subsequent and future filings with the Securities
and Exchange Commission. All information in this press release is
as of the date of the release, and Proteostasis Therapeutics, Inc.
undertakes no duty to update this information, whether as a result
of new information, future events or otherwise, unless required by
law.
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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