89bio Announces Closing of Upsized Public Offering of Common Stock and Exercise in Full of the Underwriters' Option to Purcha...
July 13 2020 - 10:18AM
89bio, Inc. (Nasdaq: ETNB), a clinical-stage biopharmaceutical
company focused on the development and commercialization of
innovative therapies for the treatment of liver and
cardio-metabolic diseases, announced the closing of its upsized
underwritten public offering of 3,047,040 shares of common stock,
which includes the exercise in full by the underwriters of their
option to purchase up to 397,440 additional shares of common stock,
at a public offering price of $27.50 per share. The gross proceeds
of the offering, before deducting underwriting discounts and
commissions and other offering expenses payable by 89bio, were
approximately $83.8 million. All of the shares were offered by
89bio.
BofA Securities, SVB Leerink and RBC Capital
Markets acted as joint book-running managers for the offering.
Oppenheimer & Co. acted as co-manager for the offering.
The registration statements relating to these
securities became effective on July 7, 2020. The offering was
made solely by means of a prospectus. Copies of the prospectus
related to the offering may be obtained from BofA Securities,
Attention: Prospectus Department, NC1-004-03-43, 200 North College
Street, 3rd Floor, Charlotte, North Carolina 28255-0001, or by
email at dg.prospectus_requests@bofa.com; SVB Leerink LLC,
Attention: Syndicate Department, One Federal Street, 37th Floor,
Boston, Massachusetts 02110, or by telephone at (800) 808-7525,
ext. 6218, or by email at syndicate@svbleerink.com; or RBC Capital
Markets LLC, Attention: Equity Syndicate Department, 200 Vesey
Street, 8th Floor, New York, New York 10281, or by telephone at
(877) 822-4089, or by email at equityprospectus@rbccm.com.
This press release shall 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 any such state or jurisdiction.
About 89bio
89bio is a clinical-stage biopharmaceutical
company focused on the development and commercialization of
innovative therapies for the treatment of liver and
cardio-metabolic diseases. The company’s lead product candidate,
BIO89-100, is being developed for the treatment of NASH and for the
treatment of SHTG. BIO89-100 is a specifically engineered
glycoPEGylated analog of FGF21 that is currently in a proof of
concept Phase 1b/2a clinical trial in patients with NASH or NAFLD
and a high risk of NASH. 89bio is headquartered in San Francisco
with operations in Herzliya, Israel.
Investor Contact: Ryan Martins Chief Financial Officer
investors@89bio.com
Media Contact: Lori Rosen LDR Communications 917-553-6808
lori@ldrcommunications.com
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