Lexeo Therapeutics Announces Closing of Public Offering and Concurrent Private Placement and Exercise in Full of the Underwriters’ Option to Purchase Additional Shares in the Public Offering

Rhea-AI Summary

Lexeo Therapeutics (Nasdaq: LXEO) closed an underwritten public offering and a concurrent private placement on Oct 20, 2025, raising approximately $153.8 million in gross proceeds before fees and expenses.

Details: the public offering sold 17,968,750 common shares at $8.00 per share (including full exercise of a 2,343,750-share underwriter option) for gross proceeds of about $143.8 million. The concurrent private placement sold pre-funded warrants to purchase 1,250,015 shares to Balyasny Asset Management for about $10 million. Joint book-runners and placement agents were named and registration materials were filed with the SEC.

Positive

• Total gross proceeds of approximately $153.8 million
• Public offering size: 17,968,750 shares at $8.00 per share
• Private placement raised approximately $10 million from Balyasny
• Underwriter option fully exercised: 2,343,750 additional shares

Negative

• Equity issuance of 17,968,750 shares may dilute existing holders
• 1,250,015 pre-funded warrants add potential future dilution

Insights

Capital Markets Analyst

Lexeo completed a sizable equity financing, raising approximately $153.8 million including the full greenshoe exercise.

Lexeo sold 17,968,750 shares of common stock at $8.00 per share in the public offering, including the full underwriters' option for 2,343,750 shares, and concurrently sold prefunded warrants to Balyasny Asset Management covering 1,250,015 shares at $7.9999 per warrant in a private placement. The press release reports gross proceeds of approximately $143.8 million from the public offering and approximately $10 million from the private placement, totaling about $153.8 million before discounts, commissions and expenses.

The transaction structure shows full underwriter participation and a corner-stone private placement buyer, which are concrete execution signals. Relevant documents filed on Form S-3 and a final prospectus supplement are available through the SEC; monitor those filings for exact fees, dilution calculations and final net proceeds, which are disclosed there and will clarify capital impacts over the near term.

Corporate Finance Specialist

Company completed a dual public and concurrent private financing that generated approximately $153.8 million in gross proceeds.

The announcement confirms the public offering included the full exercise of the underwriters' option and a private placement of prefunded warrants to Balyasny Asset Management; banks listed acted as joint book-runners and placement agent roles are specified. The release also states the offerings relied on a previously effective Form S-3 registration and that final offering documents were filed with the SEC.

Key follow-ups are explicit in the filings: review the final prospectus supplement and SEC filings for the exact underwriting discounts, commissions, estimated offering expenses and the terms governing the prefunded warrants; those documents spell out dilution, conversion mechanics, and net proceeds timing on or shortly after Oct. 20, 2025.

NEW YORK, Oct. 20, 2025 (GLOBE NEWSWIRE) -- Lexeo Therapeutics, Inc. (Nasdaq: LXEO) (“Lexeo”), a clinical stage genetic medicine company dedicated to pioneering novel treatments for cardiovascular diseases, today announced the closing of its previously announced underwritten public offering and concurrent private placement, for total gross proceeds to Lexeo of approximately $153.8 million, before deducting underwriting discounts and commission and other expenses payable by Lexeo in connection with the transaction and including the full exercise of the underwriters’ option to purchase additional shares.

In the public offering, Lexeo sold 17,968,750 shares of its common stock at $8.00 per share, which includes the full exercise of the underwriters’ option to purchase 2,343,750 shares of Lexeo’s common stock. The gross proceeds to Lexeo from the public offering, before deducting the underwriting discounts and commissions and estimated offering expenses, were approximately $143.8 million.

Concurrent with the public offering, Lexeo sold prefunded warrants to purchase 1,250,015 shares of its common stock to Balyasny Asset Management at a price of $7.9999 per pre-funded warrant, in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The gross proceeds to Lexeo from the private placement were approximately $10 million.

Leerink Partners, Cantor, Stifel and Oppenheimer & Co. acted as joint book-running managers for the public offering. Baird acted as lead manager for the public offering. Leerink Partners served as sole Placement Agent in connection with the concurrent private placement.

The common stock in the underwritten public offering was offered by Lexeo pursuant to a Registration Statement on Form S-3 which was previously filed and declared effective by the U.S. Securities and Exchange Commission (the “SEC”). A final prospectus supplement and accompanying prospectus relating to and describing the terms of the underwritten public offering was filed with the SEC. These documents can be accessed for free through the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the underwritten public offering may also be obtained from: Leerink Partners LLC, Syndicate Department, 53 State Street, 40th Floor, Boston, Massachusetts 02109, by telephone at (800) 808-7525 ext. 6105, or by emailing syndicate@leerink.com; Cantor Fitzgerald & Co., Attention: Equity Capital Markets, 110 E. 59th Street, 6th Floor, New York, New York 10022, or by email at prospectus@cantor.com; Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, California 94104, by telephone at (415) 364-2720 or by emailing syndprospectus@stifel.com; or Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, by telephone at (212) 667-8055, or by email at EquityProspectus@opco.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of any such state or jurisdiction.

The pre-funded warrants sold in the concurrent private placement have not been registered under the Securities Act, or any state or other applicable jurisdiction’s securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions’ securities laws.

About Lexeo Therapeutics
Lexeo Therapeutics is a New York City-based, clinical stage genetic medicine company dedicated to reshaping heart health by applying pioneering science to fundamentally change how cardiovascular diseases are treated. Lexeo is advancing a portfolio of therapeutic candidates that take aim at the underlying genetic causes of conditions, including LX2006 in Friedreich ataxia (FA) cardiomyopathy, LX2020 in plakophilin-2 (PKP2) arrhythmogenic cardiomyopathy, and others in devastating diseases with high unmet need.

Media Response:
Media@lexeotx.com

Investor Response:
Carlo Tanzi, Ph.D.
ctanzi@kendallir.com

FAQ

How much did Lexeo (LXEO) raise in the Oct 20, 2025 offering?

Lexeo raised approximately $153.8 million in gross proceeds before fees and expenses.

How many shares did Lexeo (LXEO) sell in the public offering and at what price?

Lexeo sold 17,968,750 common shares at $8.00 per share (including the underwriters’ option exercise).

Who participated in Lexeo’s (LXEO) private placement on Oct 20, 2025 and what was raised?

Balyasny Asset Management purchased pre-funded warrants to buy 1,250,015 shares, contributing about $10 million.

What was the size of the underwriters’ option exercised by Lexeo (LXEO)?

The underwriters’ option was exercised in full for 2,343,750 additional common shares.

Will Lexeo (LXEO) file offering documents with the SEC for investor review?

Yes; a final prospectus supplement and accompanying prospectus were filed and are available on the SEC website.

How will the Oct 20, 2025 financing affect LXEO shareholders immediately?

The financing increases outstanding equity and pre-funded warrants, which may dilute current shareholders when exercised or issued.