4D Molecular Therapeutics, Inc. (Nasdaq: FDMT), a leading
clinical-stage genetic medicines company focused on unlocking the
full potential of genetic medicines to treat large market diseases,
announced today that it priced an upsized underwritten public
offering of 6,586,015 shares of its common stock at a public
offering price of $29.50 per share and, in lieu of shares of common
stock, to certain investors, pre-funded warrants to purchase
3,583,476 shares of common stock at a public offering price of
$29.4999, which represents the per share public offering price for
the common stock less the $0.0001 per share exercise price for each
pre-funded warrant. In addition, 4D Molecular Therapeutics has
granted the underwriters a 30-day option to purchase up to an
additional 1,525,423 shares of common stock at the public offering
price, less underwriting discounts and commissions. The gross
proceeds from the offering are expected to be approximately $300
million before deducting underwriting discounts and commissions and
other offering expenses, excluding any exercise of the
underwriters’ option to purchase additional shares and excluding
the exercise of any pre-funded warrants. All of the shares and
pre-funded warrants in the offering are to be sold by 4D Molecular
Therapeutics. The offering is expected to close on February 9,
2024, subject to satisfaction of customary closing conditions.
Goldman Sachs & Co. LLC, BofA Securities, Jefferies and
Barclays 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 the U.S. Securities and
Exchange Commission (SEC) and was automatically effective upon
filing on February 5, 2024. Copies of the registration statement
can be accessed through the SEC’s website at www.sec.gov. The
offering is being made only by means of a prospectus. Copies of the
final prospectus supplement and the accompanying prospectus
relating to the offering may be obtained, when available, from:
Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200
West Street, New York, New York 10282, by telephone at (866)
471-2526 or by email at prospectus-ny@ny.email.gs.com; BofA
Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, North
Carolina 28255-0001, Attention: Prospectus Department, or by email
at dg.prospectus_requests@bofa.com; Jefferies LLC, Attention:
Equity Syndicate Prospectus Department, 520 Madison Avenue, New
York, New York 10022, by telephone at (877) 821-7388 or by email at
Prospectus_Department@Jefferies.com; Barclays Capital Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717, by telephone at (888) 603-5847 or by email at
Barclaysprospectus@broadridge.com; or by accessing the SEC’s
website at www.sec.gov.
This press release shall not constitute an offer to sell or the
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 4DMT
4DMT is a leading clinical-stage genetic medicines company
focused on unlocking the full potential of genetic medicines to
treat large market diseases in ophthalmology and pulmonology.
4DMT’s proprietary invention platform, Therapeutic Vector
Evolution, combines the power of the Nobel Prize-winning
technology, directed evolution, with approximately one billion
synthetic AAV capsid-derived sequences to invent customized and
evolved vectors for use in our wholly owned and partnered product
candidates. Our product design, development, and manufacturing
engine helps us efficiently create and advance our diverse product
pipeline with the goal of revolutionizing medicine with potential
curative therapies for millions of patients. Currently, 4DMT is
advancing five clinical-stage and two preclinical product
candidates, each tailored to address rare and large market diseases
in ophthalmology, pulmonology, and cardiology. In addition, 4DMT is
also advancing programs in CNS through a gene editing partnership.
4D Molecular Therapeutics™, 4DMT™, Therapeutic Vector Evolution™,
and the 4DMT logo are trademarks of 4DMT.
All of our product candidates are in clinical or preclinical
development and have not yet been approved for marketing by the FDA
or any other regulatory authority. No representation is made as to
the safety or effectiveness of our product candidates for the
therapeutic uses for which they are being studied.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. In some cases, you can identify forward-looking statements
by terminology such as “aim,” “anticipate,” “assume,” “believe,”
“contemplate,” “continue,” “could,” “design,” “due,” “estimate,”
“expect,” “goal,” “intend,” “may,” “objective,” “plan,”
“positioned,” “potential,” “predict,” “seek,” “should,” “target,”
“will,” “would” and other similar expressions that are predictions
of or indicate future events and future trends, or the negative of
these terms or other comparable terminology. All statements other
than statements of historical facts contained in this press release
are forward-looking statements, including, without limitation,
uncertainties related to market conditions and statements regarding
the timing, size and expected gross proceeds of the offering, the
satisfaction of customary closing conditions related to the
offering and sale of securities, and 4D Molecular Therapeutics’
ability to complete the offering. Forward-looking statements are
not guarantees of future performance and are subject to risks and
uncertainties that could cause actual results and events to differ
materially from those anticipated, including, but not limited to,
risks and uncertainties related to market conditions and the
completion and timing of the offering, and other risks are
described in greater detail under the section titled “Risk Factors”
contained in the prospectus supplement related to the public
offering and 4D Molecular Therapeutics’ current and future reports
filed with the SEC, including its most recent Quarterly Report on
Form 10-Q filed on November 9, 2023. Any forward-looking statements
that the company makes in this press release are made pursuant to
the Private Securities Litigation Reform Act of 1995, as amended,
and speak only as of the date of this press release. Except as
required by law, the company undertakes no obligation to publicly
update any forward-looking statements, whether as a result of new
information, future events or otherwise.
Contacts:
Media:
Katherine SmithInizio Evoke
CommsKatherine.Smith@inizioevoke.com
Investors:
Julian PeiHead of Investor Relations and Corporate
CommunicationsInvestor.Relations@4DMT.com267-644-5097
Grafico Azioni 4D Molecular Therapeutics (NASDAQ:FDMT)
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Grafico Azioni 4D Molecular Therapeutics (NASDAQ:FDMT)
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