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Translate Bio Prices 12.5M Share Public Offering of Common Stock @$22/Share

Translate Bio, Inc. (NASDAQ: TBIO) announced the pricing of its underwritten public offering of 12,506,811 shares of its common stock at a public offering price of $22.00 per share. In the offering, Translate Bio will issue and sell 5,681,819 shares and an exi

Benzinga · -
Translate Bio, Inc. (NASDAQ: TBIO) announced the pricing of its underwritten public offering of 12,506,811 shares of its common stock at a public offering price of $22.00 per share. In the offering, Translate Bio will issue and sell 5,681,819 shares and an existing stockholder, Shire Human Genetic Therapies, Inc. (Shire), a subsidiary of Takeda Pharmaceutical Company Limited, will sell 6,824,992 shares. The gross proceeds to Translate Bio from the offering, before deducting underwriting discounts and commissions and offering expenses payable by Translate Bio, are expected to be approximately $125.0 million. Translate Bio will not receive any proceeds from the sale of the shares by Shire. In addition, Translate Bio has granted the underwriters a 30-day option to purchase up to 1,876,021 additional shares of common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on June 30, 2020, subject to the satisfaction of customary closing conditions. Goldman Sachs & Co. LLC, SVB Leerink and Evercore ISI are acting as joint book-running managers and H.C. Wainwright & Co. and Roth Capital Partners are acting as co-lead managers for the offering.