Beam Therapeutics Announces Pricing of Public Offering of Common Stock

CAMBRIDGE, Mass., Sept. 30, 2020 (GLOBE NEWSWIRE) -- Beam Therapeutics Inc. (Nasdaq: BEAM), a biotechnology company developing precision genetic medicines through base editing, today announced the pricing of its public offering of 5,000,000 shares of common stock at a public offering price of $23.50 per share. All of the shares are being offered by Beam Therapeutics. In addition, Beam Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock at the public offering price, less the underwriting discounts and commissions.

The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Beam Therapeutics, are expected to be approximately $117.5 million excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on October 5, 2020, subject to the satisfaction of customary closing conditions.

J.P. Morgan, Jefferies and Barclays are acting as joint book-running managers for the offering. Wedbush PacGrow is acting as lead manager for the offering.

A registration statement relating to the shares being sold in this offering became effective by the Securities and Exchange Commission on September 30, 2020. The offering is being made only by means of a prospectus, copies of which may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (866) 803-9204, or by emailing prospectus-eq_fi@jpmchase.com; Jefferies LLC, 520 Madison Avenue, 2nd Floor, New York, NY 10022, Attention: Equity Syndicate Prospectus Department, by telephone at 877-821-7388 or by email at prospectus_department@jefferies.com; or Barclays Capital Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-888-603-5847, or email: Barclaysprospectus@broadridge.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 other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Beam Therapeutics
Beam Therapeutics is a biotechnology company developing precision genetic medicines through the use of base-editing. Beam’s proprietary base editors create precise, predictable and efficient single base changes, at targeted genomic sequences, without making double stranded breaks in the DNA. This enables a wide range of potential therapeutic editing strategies that Beam is using to advance a diversified portfolio of base editing programs. Beam is a values-driven organization committed to its people, cutting-edge science, and a vision of providing life-long cures to patients suffering from serious diseases.

Contacts

Media:
Dan Budwick
1AB
dan@1abmedia.com

Investors:
Monique Allaire
THRUST Strategic Communications
monique@thrustsc.com