Scholar Rock, a biotech company focused on developing medicines that treat serious diseases, has raised over $75 million for its IPO after pricing its 5.36 million shares at $14 per share. The stock began trading May 24, 2018 on the NASDAQ under the ticker symbol of “SRRK.” Jefferies LLC, Cowen and Company LLC and BMO Capital Markets Corp are the lead underwriters. Scholar Rock’s pre-IPO investors included Invus, Redmile Group, Polaris Partners, ARCH Venture Partners, EcoR1 Capital, The Kraft Group, Fidelity Management and Research Company and Cormorant Asset Management.
CAMBRIDGE, Mass., May 23, 2018 (GLOBE NEWSWIRE) — Scholar Rock (NASDAQ:SRRK), a biopharmaceutical company focused on the discovery and development of innovative medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role, today announced the pricing of its initial public offering of 5,360,000 shares of its common stock at a public offering price of $14.00 per share. All of the shares are being offered by Scholar Rock. In addition, Scholar Rock has granted the underwriters a 30-day option to purchase up to 804,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions.
The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses payable by Scholar Rock, are expected to be approximately $75.0 million, excluding any proceeds from the exercise of the underwriters’ option to purchase additional shares. Scholar Rock’s common stock is expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “SRRK” on May 24, 2018. The offering is expected to close on May 29, 2018 subject to customary closing conditions.
Jefferies LLC, Cowen and Company, LLC, and BMO Capital Markets Corp. 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 these securities was filed with, and was declared effective by, the Securities and Exchange Commission on May 23, 2018. This offering is being made only by means of a prospectus. When available, a copy of the final prospectus relating to the offering may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-547-6340 or by email at Prospectus_Department@Jefferies.com; Cowen and Company, LLC (c/o Broadridge Financial Solutions, Attention Prospectus Department, 1155 Long Island Avenue, Edgewood, NY, 11717; telephone: 631-274-2806); or BMO Capital Markets Corp., Attention: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036, by telephone at (800) 414-3627, or by email at firstname.lastname@example.org.
This press release does not constitute an offer to sell or the 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 Scholar Rock
Scholar Rock is a biopharmaceutical company focused on the discovery and development of innovative medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role.