Cambridge, Massachusetts-based LogicBio Therapeutics Inc, a genome editing company, has raised $70 million for its IPO after pricing its 7 million shares at $10 per share. The stock began trading October 19, 2018 on the NASDAQ under the ticker symbol “LOGC.” Jefferies, Barclays and William Blair are the lead underwriters. LogicBio’s pre-IPO backers include Arix Bioscience, OrbiMed, Edmond De Rothschild Investment Partners, Pontifax and SBI.
CAMBRIDGE, Mass., Oct. 18, 2018 (GLOBE NEWSWIRE) — LogicBio Therapeutics, Inc., a genome editing company focused on developing medicines to durably treat rare diseases in patients with significant unmet medical need, today announced the pricing of its initial public offering of 7,000,000 shares of common stock at a public offering price of $10.00 per share for aggregate gross proceeds of approximately $70.0 million. All of the shares are being offered by LogicBio. In addition, LogicBio has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock from LogicBio at the initial public offering price, less the underwriting discounts and commissions. LogicBio’s common stock is expected to begin trading on The Nasdaq Global Market on October 19, 2018 under the ticker symbol “LOGC.” The offering is expected to close on October 23, 2018, subject to customary closing conditions.
Jefferies, Barclays and William Blair are acting as joint book-running managers for the proposed offering. Chardan is acting as the lead manager for the offering.
A registration statement relating to the shares being sold in this offering was declared effective by the Securities and Exchange Commission on October 18, 2018. The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-821-7388 or by email at [email protected]; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 1717, by telephone at 888-603-5847 or by email at [email protected]; William Blair & Company, L.L.C. Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, Illinois 60606, by telephone at (800) 621-0687, or by email at [email protected]
This press release shall 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 other 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 or other jurisdiction.
About LogicBio Therapeutics
LogicBio Therapeutics is a genome editing company focused on developing medicines to durably treat rare diseases in patients with significant unmet medical needs using GeneRide™, its proprietary technology platform. GeneRide™ enables the site-specific integration of a therapeutic transgene in a nuclease-free and promotorless approach by relying on the native process of homologous recombination to drive lifelong expression. Headquartered in Cambridge, Massachusetts, LogicBio is committed to developing medicines that will transform the lives of pediatric patients and their families.
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