Sagimet Biosciences Announces Pricing of Upsized Initial Public Offering
2023年7月14日 - 10:10AM
Sagimet Biosciences Inc. (“Sagimet”) (Nasdaq: SGMT), a
clinical-stage biopharmaceutical company developing novel
therapeutics targeting dysfunctional metabolic pathways, today
announced the pricing of its upsized initial public offering of
5,312,500 shares of its Series A common stock at a public offering
price of $16.00 per share. All of the shares of Series A common
stock are being offered by Sagimet. The gross proceeds from the
offering, before deducting underwriting discounts and commissions
and other offering expenses payable by Sagimet, are expected to be
$85.0 million. Sagimet’s Series A common stock is expected to begin
trading on the Nasdaq Global Market on July 14, 2023 under the
ticker symbol “SGMT.” The offering is expected to close on July 18,
2023, subject to the satisfaction of customary closing conditions.
In addition, Sagimet has granted the underwriters a 30-day option
to purchase up to an additional 796,875 shares of its Series A
common stock at the initial public offering price, less
underwriting discounts and commissions.
Goldman Sachs & Co. LLC, Cowen and Company, LLC and Piper
Sandler & Co. are acting as joint book-running managers for the
offering. JMP Securities LLC is acting as the lead manager for the
offering.
Registration statements relating to the shares being sold in
this offering have been filed with the Securities and Exchange
Commission and became effective on July 13, 2023. This offering is
being made only by means of a written prospectus. Copies of the
final prospectus, when available, may be obtained from: Goldman
Sachs & Co. LLC, Attention: Prospectus Department, 200 West
Street, New York, NY 10282, by telephone at (866) 471-2526, or by
email at prospectus-ny@ny.email.gs.com; Cowen and Company, LLC, 599
Lexington Avenue, New York, NY 10022, by telephone at (833)
297-2926, or by email at prospectus_ecm@cowen.com; or Piper Sandler
& Co., Attention: Prospectus Department, 800 Nicollet Mall,
J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924, or
by email at prospectus@psc.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor will there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state, province, territory or other jurisdiction.
About Sagimet Biosciences
Sagimet is a clinical-stage biopharmaceutical company developing
novel therapeutics called fatty acid synthase (FASN) inhibitors
that target dysfunctional metabolic pathways in diseases resulting
from the overproduction of the fatty acid, palmitate. Sagimet’s
lead drug candidate, denifanstat, is an oral, once-daily pill and
selective FASN inhibitor in development for the treatment of
nonalcoholic steatohepatitis (NASH), for which there are no
treatments currently approved in the United States or Europe.
Denifanstat is currently being tested in FASCINATE-2, a Phase 2b
clinical trial in NASH with liver biopsy as the primary
endpoint.
Forward-Looking Statements
This press release contains forward-looking statements.
Investors are cautioned not to place undue reliance on these
forward-looking statements, including, without limitation,
statements about the expected completion, timing and size of the
initial public offering and the expected commencement of trading on
the Nasdaq Global Market. Each forward-looking statement is subject
to risks and uncertainties that could cause actual results to
differ materially from those expressed or implied in such
statement. Applicable risks and uncertainties include those related
to market conditions and satisfaction of customary closing
conditions related to the initial public offering. There can be no
assurance that Sagimet will be able to complete its initial public
offering on the anticipated terms, or at all. Applicable risks also
include those identified under the heading “Risk Factors” in the
preliminary prospectus that forms a part of the effective
registration statement filed with the Securities and Exchange
Commission. These forward-looking statements speak only as of the
date of this press release. Factors or events that could cause
Sagimet’s actual results to differ may emerge from time to time,
and it is not possible for Sagimet to predict all of them. Sagimet
undertakes no obligation to update any forward-looking statement,
whether as a result of new information, future developments or
otherwise, except as may be required by applicable law.
Contact:
Robert UhlManaging Director, ICR
Westwicke858.356.5932robert.uhl@westwicke.com
Sagiment Biosciences (NASDAQ:SGMT)
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Sagiment Biosciences (NASDAQ:SGMT)
過去 株価チャート
から 6 2023 まで 6 2024