Dyne Therapeutics Announces Pricing of $325.5 Million Public Offering of Common Stock
22 Maggio 2024 - 2:39AM
Dyne Therapeutics, Inc. (Nasdaq: DYN), a clinical-stage muscle
disease company focused on advancing innovative life-transforming
therapeutics for people living with genetically driven diseases,
today announced the pricing of an underwritten public offering of
10,500,000 shares of its common stock at a public offering price of
$31.00 per share. The gross proceeds to Dyne from the offering,
before deducting underwriting discounts and commissions and
offering expenses payable by Dyne, are expected to be $325.5
million. All shares in the offering are being sold by Dyne. The
offering is expected to close on or about May 24, 2024, subject to
customary closing conditions. In addition, Dyne has granted the
underwriters a 30-day option to purchase up to an additional
1,575,000 shares of its common stock at the public offering price,
less the underwriting discounts and commissions.
Morgan Stanley, Jefferies, Stifel and Guggenheim Securities are
acting as joint book-running managers for the offering. Oppenheimer
& Co. and Raymond James are acting as co-managers for the
offering.
The offering is being made pursuant to a shelf registration
statement on Form S-3 that was previously filed with the Securities
and Exchange Commission (“SEC”) on March 5, 2024 and became
automatically effective upon filing. This offering is being made
only by means of a prospectus supplement and accompanying
prospectus that form a part of the registration statement. A
preliminary prospectus supplement relating to and describing the
terms of the offering has been filed with the SEC and may be
obtained for free by visiting the SEC’s website at www.sec.gov. A
final prospectus supplement relating to the offering will be filed
with the SEC. When available, copies of the final prospectus
supplement and the accompanying prospectus may also be obtained by
contacting: Morgan Stanley & Co. LLC, Attention: Prospectus
Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by
email at prospectus@morganstanley.com; Jefferies LLC, Attention:
Equity Syndicate Prospectus Department, 520 Madison Avenue, New
York, NY 10022, by telephone at (877) 821-7388, or by email at
Prospectus_Department@Jefferies.com; Stifel, Nicolaus &
Company, Incorporated, Attention: Prospectus Department, One
Montgomery Street, Suite 3700, San Francisco, CA 94104, by
telephone at (415) 364-2720 or by email at
syndprospectus@stifel.com; or Guggenheim Securities, LLC,
Attention: Equity Syndicate Department, 330 Madison Avenue, 8th
Floor, New York, NY 10017, by telephone at (212) 518-9544, or by
email at GSEquityProspectusDelivery@guggenheimpartners.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 sale of these securities in any state or 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 jurisdiction.
About Dyne Therapeutics
Dyne Therapeutics is a clinical-stage muscle disease company
focused on advancing innovative life-transforming therapeutics for
people living with genetically driven diseases. With its
proprietary FORCE™ platform, Dyne is developing modern
oligonucleotide therapeutics that are designed to overcome
limitations in delivery to muscle tissue. Dyne has a broad pipeline
for serious muscle diseases, including clinical programs for
myotonic dystrophy type 1 (DM1) and Duchenne muscular dystrophy
(DMD) and a preclinical program for facioscapulohumeral muscular
dystrophy (FSHD).
Forward-Looking Statements
This press release contains forward-looking statements that
involve substantial risks and uncertainties. All statements, other
than statements of historical facts, contained in this press
release, including statements relating to the anticipated closing
date of the public offering, constitute forward-looking statements
within the meaning of The Private Securities Litigation Reform Act
of 1995. The words “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “intend,” “may,” “might,” “objective,”
“ongoing,” “plan,” “predict,” “project,” “potential,” “should,” or
“would,” or the negative of these terms, or other comparable
terminology are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. Dyne may not actually achieve the plans,
intentions or expectations disclosed in these forward-looking
statements, and you should not place undue reliance on these
forward-looking statements. Actual results or events could differ
materially from the plans, intentions and expectations disclosed in
these forward-looking statements as a result of various important
factors, including the risks and uncertainties related to the
satisfaction of customary closing conditions for the public
offering and other factors discussed in the “Risk Factors” section
of the preliminary prospectus supplement filed with the SEC on May
20, 2024, as well as the risks and uncertainties identified in
Dyne’s filings with the SEC, including Dyne’s most recent Form 10-Q
and in subsequent filings Dyne may make with the SEC. In addition,
the forward-looking statements included in this press release
represent Dyne’s views as of the date of this press release. Dyne
anticipates that subsequent events and developments will cause its
views to change. However, while Dyne may elect to update these
forward-looking statements at some point in the future, it
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing Dyne’s views as of any date subsequent to the date of
this press release.
Contacts:
InvestorsAmy Reillyareilly@dyne-tx.com
857-341-1203
MediaStacy
Nartkersnartker@dyne-tx.com781-317-1938
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