Dyne Therapeutics Inc, a muscle disease company, has raised about $233 million for its IPO after pricing its over 12.2 million shares at $19 per share. The stock began trading September 17, 2020 on the NASDAQ under the ticker symbol “DYN.” J.P. Morgan, Jefferies, Piper Sandler and Stifel are the lead underwriters. Dyne’s pre-IPO backers included Atlas Venture, Forbion and MPM Capital.
WALTHAM, Mass., Sept. 16, 2020 (GLOBE NEWSWIRE) — Dyne Therapeutics, Inc. (Nasdaq: DYN), a muscle disease company focused on advancing innovative life-transforming therapeutics for patients with genetically driven diseases, today announced the pricing of its initial public offering of 12,251,578 shares of its common stock at an initial public offering price of $19.00 per share. In addition, Dyne has granted the underwriters a 30-day option to purchase up to 1,837,736 additional shares of common stock at the initial public offering price, less the underwriting discount and commissions. All of the shares are being offered by Dyne.
Dyne’s common stock is expected to begin trading on the Nasdaq Global Select Market on Thursday, September 17, 2020 under the ticker symbol “DYN.” The gross proceeds of the offering, before deducting the underwriting discount and commissions and other offering expenses payable by Dyne, are expected to be approximately $233 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on Monday, September 21, 2020, subject to customary closing conditions.
J.P. Morgan, Jefferies, Piper Sandler and Stifel are acting as joint book-running managers for the offering.
A registration statement relating to the securities being sold in this offering has been filed with, and declared effective by, the Securities and Exchange Commission. This offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained, when available, from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone at (866) 803-9204 or via email at email@example.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022, via telephone at (877) 821-7388 or via email at Prospectus_Department@Jefferies.com; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, via telephone at (800) 747-3924 or via email at firstname.lastname@example.org; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, via telephone at (415) 364-2720 or via email at email@example.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 offer or 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 or jurisdiction.
About Dyne Therapeutics
Dyne Therapeutics is building a leading muscle disease company focused on advancing innovative life-transforming therapeutics for patients with genetically driven diseases. The Company utilizes its proprietary FORCE™ platform to overcome the current limitations of muscle tissue delivery with modern oligonucleotide therapeutic candidates. Dyne is developing a broad portfolio of therapeutics for muscle diseases, including lead programs in myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD) and facioscapulohumeral muscular dystrophy (FSHD).