RICHMOND, Calif., April 25, 2018 /PRNewswire/ -- Sangamo Therapeutics, Inc. (Nasdaq: SGMO) today announced the pricing of an underwritten public offering of 12,310,000 shares of its common stock at a price to the public of $16.25 per share. All of the shares are being sold by Sangamo. The gross proceeds to Sangamo from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be approximately $200.0 million. The offering is expected to close on or about April 30, 2018, subject to customary closing conditions. In addition, Sangamo has granted the underwriters of the offering a 30-day option to purchase up to an additional 1,846,500 shares of its common stock solely to cover overallotments at the public offering price, less the underwriting discounts and commissions.
Sangamo anticipates using the net proceeds from the offering to support its own and its partnered gene therapy, genome editing, cell therapy and gene regulation product candidates and research programs, its manufacturing facilities and other business development activities, as well as for general corporate purposes, including working capital.
BofA Merrill Lynch, J.P. Morgan Securities LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering.
A registration statement relating to the shares was previously filed with and became effective by rule of the Securities and Exchange Commission. The offering is being made solely by means of a prospectus. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the Securities and Exchange Commission and will be available on the Securities and Exchange Commission's website located at http://www.sec.gov. A copy of the final prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained from: BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at [email protected]; or from J.P. Morgan Securities LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204; or from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (631) 274-2806.
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 Sangamo Therapeutics
Sangamo Therapeutics, Inc. is focused on translating ground-breaking science into genomic therapies that transform patients' lives using the Company's industry leading platform technologies in genome editing, gene therapy, gene regulation and cell therapy.
Forward Looking Statements
This press release contains forward-looking statements regarding Sangamo's current expectations. These forward-looking statements include, without limitation, references to Sangamo's expectations regarding the completion, timing and size of the public offering and its anticipated use of net proceeds from the offering. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to completion of the public offering on the anticipated terms or at all, market conditions and the satisfaction of customary closing conditions related to the public offering. These and other risks and uncertainties are described more fully in the section captioned "Risk Factors" in the final prospectus supplement related to the public offering to be filed with the Securities and Exchange Commission as well as Sangamo's Current Report on Form 8-K filed with the Securities and Exchange Commission on April 17, 2018 and other filings. Forward-looking statements contained in this announcement are made as of this date, and Sangamo undertakes no duty to update such information except as required under applicable law.