Secondary Stock OfferingsBy The Online Investor Staff, updated Sat., May. 8, 6:21 AM
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Slide #24. Synlogic — Secondary Offering
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Synlogic (Nasdaq: SYBX), a clinical stage company bringing the transformative potential of synthetic biology to medicine, today announced that it has commenced an underwritten public offering of its common stock. All shares of common stock to be sold in the offering will be offered by Synlogic. Synlogic intends to grant the underwriter a 30-day option to purchase up to an aggregate of an additional 15% of the shares of its common stock offered in the public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. -updated 4/16- Synlogic (Nasdaq: SYBX) a clinical stage company bringing the transformative potential of synthetic biology to medicine, today announced the pricing of its underwritten public offering of 10,000,000 shares of its common stock at a public offering price of $3.00 per share. The gross proceeds to Synlogic from the offering, before deducting the underwriting discounts and commissions and offering expenses payable by Synlogic, are expected to be $30.0 million. All shares of common stock to be sold in the offering are being sold by Synlogic. In addition, Synlogic has granted to the underwriter a 30-day option to purchase up to 1,500,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about April 20, 2021, subject to the satisfaction of customary closing conditions.
Synlogic is a clinical-stage biopharmaceutical company focused on improving its proprietary drug discovery and development platform to create Synthetic Biotic medicines. Synthetic Biotic medicines are designed to be programmed to metabolize, or consume, a toxic substance, compensate for damaged metabolic pathways in patients, or produce one or more therapeutic factors. Co.'s primary product candidate for the treatment of metabolic dysfunction is SYNB1618, an oral therapy intended for the treatment of phenylketonuria. Co.'s Synthetic Biotic clinical immuno-oncology candidate is SYNB1891, a Synthetic Biotic medicine engineered to act as a dual innate and adaptive immune activator.
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Strong Buy (3.67 out of 4)