Disc Medicine Announces Closing of Public Offering of Common Stock and Pre-Funded Warrants Including Full Exercise of Underwriters’ Option to Purchase Additional Shares
22 Junho 2023 - 5:15PM
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 the closing of
its underwritten public offering of 3,015,919 shares of its common
stock and, in lieu of common stock to certain investors that so
chose, pre-funded warrants to purchase 204,081 shares of its common
stock. The shares of common stock sold include 420,000 shares
pursuant to the option granted by Disc to the underwriters, which
option was exercised in full. The shares of common stock were sold
at a public offering price of $49.00 per share, and the pre-funded
warrants were sold at a public offering price of $48.9999 per
pre-funded warrant, which represents the per share public offering
price for the common stock less the $0.0001 per share exercise
price for each such pre-funded warrant. The aggregate gross
proceeds to Disc from this offering were approximately $157.8
million, before deducting underwriting discounts and commissions
and other estimated offering expenses, excluding the exercise of
any pre-funded warrants. All of the securities sold in the offering
were offered by Disc.
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 acted as joint book-running managers for the
offering. Wedbush PacGrow acted as lead manager for the
offering.
The securities described above were 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 was
made only by means of a prospectus and prospectus supplement that
form a part of the registration statement. A final prospectus
supplement and accompanying prospectus related to the offering has
been filed with the SEC and is available on the SEC’s website at
www.sec.gov. Copies of the final prospectus supplement and the
accompanying prospectus relating to this offering may also be
obtained, 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 anticipated use of proceeds from the offering. 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 satisfaction of customary closing
conditions related to the public offering, 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 final
prospectus supplement related to the offering filed with the SEC on
June 15, 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
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