Disc Medicine Announces Proposed Public Offering of Common Stock and Pre-Funded Warrants
12 Junho 2023 - 5:00PM
Disc Medicine, Inc. (NASDAQ: IRON) (Disc), a clinical-stage
biopharmaceutical company focused on the discovery, development,
and commercialization of novel treatments for patients suffering
from serious hematologic diseases, today announced that it has
commenced an underwritten public offering of $100 million of shares
of its common stock and, in lieu of common stock to certain
investors that so choose, pre-funded warrants to purchase shares of
its common stock. All shares of common stock and pre-funded
warrants to be sold in the offering will be offered by Disc. In
addition, Disc intends to grant the underwriters a 30-day option to
purchase up to an additional $15 million of shares of its common
stock at the public offering price, less underwriting discounts and
commissions. The offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
Disc intends to use the net proceeds from the
offering to fund research and clinical development of its current
or additional product candidates, as well as for working capital
and other general corporate purposes.
Morgan Stanley, SVB Securities, Stifel and BMO
Capital Markets are acting as joint book-running managers for the
offering. Wedbush PacGrow is acting as lead manager for the
offering.
The securities described above are being offered
by Disc pursuant to a shelf registration statement on Form S-3 (No.
333-269272) that was declared effective by the Securities and
Exchange Commission (SEC) on January 24, 2023. This offering is
being made only by means of a prospectus and prospectus supplement
that form a part of the registration statement. A preliminary
prospectus supplement related to the offering will be filed with
the SEC and will be available on the SEC’s website at www.sec.gov.
Copies of the preliminary prospectus supplement and the
accompanying prospectus relating to this offering may also be
obtained, when available, by contacting: Morgan Stanley & Co.
LLC, Attention: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, New York 10014; SVB Securities LLC, Attention:
Syndicate Department, 53 State Street, 40th Floor, Boston,
Massachusetts 02109, telephone: 1 (800) 808-7525 ext. 6105, or by
emailing syndicate@svbsecurities.com; Stifel, Nicolaus &
Company, Incorporated, Attention: Syndicate, One Montgomery Street,
Suite 3700, San Francisco, California 94104, telephone: (415)
364‐2720 or by emailing syndprospectus@stifel.com; or BMO Capital
Markets Corp., Attention: Equity Syndicate Department, 151 W 42nd
Street, 32nd Floor, New York, New York 10036, telephone: (212)
702-1101, or by emailing bmoprospectus@bmo.com.
This press release does not constitute an offer
to sell or a 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 that state or jurisdiction.
About Disc Medicine
Disc Medicine (NASDAQ: IRON) is a clinical-stage
biopharmaceutical company committed to discovering, developing, and
commercializing novel treatments for patients who suffer from
serious hematologic diseases. We are building a portfolio of
innovative, potentially first-in-class therapeutic candidates that
aim to address a wide spectrum of hematologic diseases by targeting
fundamental biological pathways of red blood cell biology,
specifically heme biosynthesis and iron homeostasis.
Cautionary Statement Regarding
Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended, including, without limitation,
express or implied statements related to Disc’s expectations
regarding the timing of the proposed public offering, the size and
expected gross proceeds from the offering, the anticipated use of
proceeds from the proposed offering and the grant to the
underwriters of an option to purchase additional shares. The words
“may,” “will,” “could,” “would,” “should,” “expect,” “plan,”
“anticipate,” “intend,” “believe,” “estimate,” “predict,”
“project,” “potential,” “continue,” “seek,” “target” and similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. Any forward-looking statements in this press
release are based on management’s current expectations and beliefs
and are subject to a number of risks, uncertainties and important
factors that may cause actual events or results to differ
materially from those expressed or implied by any forward-looking
statements contained in this press release. These risks and
uncertainties include fluctuations in Disc’s stock price, changes
in market conditions, the completion of the public offering on the
anticipated terms or at all, and other risks identified in our SEC
filings, including our Quarterly Report on Form 10-Q for the
quarter ended March 31, 2023 and in the preliminary prospectus
supplement related to the offering to be filed with the SEC on or
about June 12, 2023. We caution you not to place undue reliance on
any forward-looking statements, which speak only as of the date
they are made. We disclaim any obligation to publicly update or
revise any such statements to reflect any change in expectations or
in events, conditions or circumstances on which any such statements
may be based, or that may affect the likelihood that actual results
will differ from those set forth in the forward-looking
statements.
Media Contact
Peg RusconiVerge Scientific
Communicationsprusconi@vergescientific.com
Investor Relations Contact
Christina TartagliaStern Investor
Relationschristina.tartaglia@sternir.com
Disc Medicine (NASDAQ:IRON)
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