Stamford, Connecticut-based SpringWorks Therapeutics Inc, a clinical-stage biopharmaceutical company focused on developing life-changing medicines for patients with severe rare diseases and cancer, has raised $162 million for its IPO after pricing its 9 million shares at $18 per share. The stock began trading September 13, 2019 on the NASDAQ under the ticker symbol “SWTX.” J.P. Morgan Securities LLC, Goldman Sachs and Cowen and Company LLC are the lead underwriters. SpringWorks’ pre-IPO backers include Perceptive Advisors, Bain Capital Life Sciences, Bain Capital Double Impact, OrbiMed, Pfizer and LifeArc.
STAMFORD, Conn., Sept. 12, 2019 (GLOBE NEWSWIRE) — SpringWorks Therapeutics, Inc., a clinical-stage biopharmaceutical company focused on developing life-changing medicines for patients with severe rare diseases and cancer, today announced the pricing of its initial public offering of 9,000,000 shares of its common stock at a price to the public of $18.00 per share. All of the shares are being offered by SpringWorks. The gross proceeds to SpringWorks from the offering, before deducting underwriting discounts and commissions and estimated offering expenses to be payable by SpringWorks, are expected to be $162 million. The shares are expected to begin trading on the Nasdaq Global Select Market on September 13, 2019, under the ticker symbol “SWTX” and the offering is expected to close on September 17, 2019, subject to the satisfaction of customary closing conditions. In addition, SpringWorks has granted the underwriters a 30-day option to purchase up to 1,350,000 additional shares of its common stock at the initial public offering price less underwriting discounts and commissions.
J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering. Wedbush Securities Inc. is acting as co-manager for the offering.
A registration statement relating to the securities being sold in this offering has been filed with, and was declared effective by, the U.S. Securities and Exchange Commission. This offering is being made only by means of a written prospectus. Copies of the final prospectus may be obtained, when available, from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866-803-9204 or by emailing email@example.com; or Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526 or by emailing firstname.lastname@example.org; or Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, telephone: 1-631-592-5973 or by emailing: PostSaleManualRequests@broadridge.com.
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 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 SpringWorks Therapeutics
SpringWorks is a clinical-stage biopharmaceutical company applying a precision medicine approach to acquiring, developing and commercializing life-changing medicines for underserved patient populations suffering from devastating rare diseases and cancer. SpringWorks has a differentiated portfolio of small molecule targeted oncology product candidates and is advancing two potentially registrational clinical trials in rare tumor types, as well as several other programs addressing highly prevalent, genetically defined cancers. SpringWorks’ strategic approach and operational excellence in clinical development have enabled it to rapidly advance its two lead product candidates into late-stage clinical trials while simultaneously entering into multiple shared-value partnerships with industry leaders to expand its portfolio.