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Mersana Therapeutics Announces Pricing of Public Offering of Common Stock | ||
By: GlobeNewswire - 29 May 2020 | Back to overview list |
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CAMBRIDGE, Mass., May 28, 2020 (GLOBE NEWSWIRE) -- Mersana Therapeutics, Inc. (Nasdaq:MRSN), a clinical-stage biopharmaceutical company focused on discovering and developing a pipeline of antibody-drug conjugates (ADCs) targeting cancers in areas of high unmet medical need, today announced the pricing of an underwritten public offering of 8,000,000 shares of common stock at a price to the public of $19.00 per share. Gross proceeds to Mersana from the offering are expected to be $152.0 million, before deducting underwriting discounts and commissions and offering expenses payable by Mersana. In addition, Mersana has granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of common stock, at the public offering price less underwriting discounts and commissions. All shares are being sold by Mersana. The offering is expected to close on June 2, 2020, subject to the satisfaction of customary closing conditions. Cowen and SVB Leerink are acting as joint bookrunning managers for the offering. Wedbush PacGrow is acting as lead manager and Baird and H.C. Wainwright & Co. are acting as co-managers for the offering. Mersana intends to use the net proceeds from the offering to support clinical development of XMT-1536 and XMT-1592, to progress Mersana’s next ADC product candidates into Phase 1 clinical development, to progress Mersana’s early platform development and the balance to fund working capital, capital expenditures and other general corporate purposes. The shares of common stock described above are being offered by Mersana pursuant to an effective shelf registration statement on Form S-3 (File No. 333-238140), as well as a related registration statement on Form S-3MEF filed with the Securities and Exchange Commission (SEC) pursuant to Rule 462(b) under the Securities Act of 1933, as amended. A preliminary prospectus supplement related to the offering was filed with the SEC on May 28, 2020. The final prospectus supplement related to the offering will be filed with the SEC. When available, you may obtain copies of the final prospectus supplement and the accompanying prospectus from: Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 Attention: Prospectus Department, by telephone at (833) 297-2926, or by email at PostSaleManualRequests@broadridge.com; or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, Massachusetts 02110, by telephone at 800-808-7525, ext. 6218 or by email at syndicate@svbleerink.com. Electronic copies of the final prospectus supplement and the accompanying prospectus will also be available on the website of the SEC at www.sec.gov. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the offering, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. About Mersana Therapeutics Forward-Looking Statements Contact: Investor & Media Contact
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