CAMBRIDGE, Massachusetts, Sept. 25, 2024 (GLOBE NEWSWIRE) — Wave Life Sciences Ltd. VVea clinical-stage biotechnology company focused on unlocking the broad potential of RNA medicines to transform human health, today announced the pricing of its previously announced underwritten public offering of 23,125,001 shares of its common stock at a price to the public of $8.00 per common share and, in lieu of common stock to certain investors, pre-funded warrants to purchase up to 1,875,023 shares of its common stock at an offering price of $7.9999 per pre-funded warrant, representing the offering price per share of the common stock less the exercise price of $0.0001 per share for each pre-funded warrant.
The gross proceeds from the offering to Wave Life Sciences are expected to be approximately $200 million, before deducting underwriting discounts and commissions and offering expenses. Wave Life Sciences is selling all of the securities in the offering. In addition, Wave Life Sciences has granted the underwriters a 30-day option to purchase up to an additional 3,750,000 shares of its common stock on the same terms and conditions. The offering is expected to close on or about September 27, 2024, subject to customary closing conditions.
JP Morgan and Leerink Partners are acting as joint bookrunners for the offering. Truist Securities and Mizuho are acting as joint bookrunners for the offering.
The offering is being made only by means of a prospectus and a related prospectus supplement that are part of a pre-registration statement that was previously filed with and declared effective by the Securities and Exchange Commission (“SEC”). The preliminary prospectus supplement and the accompanying base prospectus relating to the offering were filed with the SEC on September 24, 2024. The final prospectus supplement and the accompanying prospectus will be filed with the SEC and will be available on the SEC's website located at http://www.sec.govcopies of which may be obtained, when available, from JP Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus-eq_fi@jpmchase.com and postalemanualrequests@broadridge.com; or from Leerink Partners LLC, Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@leerink.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other 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 other jurisdiction.
About Wave Life Sciences
Wavy Life Sciences VVe Wave is a biotechnology company focused on unlocking the broad potential of RNA medicines to transform human health. Wave's RNA medicines platform, PRISM®Wave combines multiple modalities, chemical innovation, and deep insights into human genetics to deliver scientific breakthroughs that address both rare and prevalent disorders. Its toolkit of RNA-targeting modalities includes RNA editing, splicing, RNA interference, and antisense silencing, providing Wave with unmatched capabilities to sustainably design and deliver candidates that optimally address disease biology. Wave’s diversified portfolio includes clinical programs in Duchenne muscular dystrophy, alpha-1 antitrypsin deficiency, and Huntington’s disease, as well as a preclinical program in obesity. Driven by the call to “Reimagine the Possible,” Wave is leading the way to a world where human potential is no longer hampered by the burden of disease. Wave is headquartered in Cambridge, MA.
Forward-looking statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. The words “may,” “will,” “could,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements include statements regarding the closing of the public offering of common stock and pre-funded warrants to purchase common stock. These statements are subject to various risks and uncertainties, actual results could differ materially from those projected and Wave cautions investors not to place undue reliance on the forward-looking statements in this press release. These risks and uncertainties include, without limitation, risks and uncertainties related to the satisfaction of customary closing conditions related to the public offering. There can be no assurance that Wave will be able to complete the public offering on the anticipated terms, or at all. The forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by the forward-looking statements contained in this press release, including, but not limited to, the risks and uncertainties described in the section entitled “Risk Factors” in Wave's preliminary prospectus supplement relating to the proposed offering filed with the SEC on September 24, 2024 and Wave's most recent Annual Report on Form 10-K filed with the SEC, as amended, and in other filings Wave makes with the SEC from time to time. Wave undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.
Investor Contact:
Kate Rush
+1 617-949-4827
krausch@wavelifesci.com
Press contact:
Alicia Suter
+1 617-949-4817
asuter@wavelifesci.com
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