Mineralys Therapeutics Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
Rhea-AI Summary
Mineralys Therapeutics, a clinical-stage biopharmaceutical company, has successfully closed its initial public offering (IPO) of 13,800,000 shares of common stock at an offering price of $16.00 per share. This IPO raised $220.8 million in gross proceeds, including the full exercise of the underwriters' option to purchase an additional 1,800,000 shares. The company's common stock is traded on the Nasdaq under the ticker symbol MLYS. The offering was managed by leading financial institutions, ensuring a robust market entry for Mineralys, focusing on treating diseases linked to elevated aldosterone levels.
Positive
- Raised $220.8 million in gross proceeds from IPO.
- Strong market interest evidenced by the full exercise of the underwriters' option for additional shares.
- Funds will potentially support the development of lorundrostat, aimed at treating uncontrolled hypertension.
Negative
- None.
News Market Reaction
On the day this news was published, MLYS gained 0.11%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
RADNOR, Pa., Feb. 14, 2023 (GLOBE NEWSWIRE) -- Mineralys Therapeutics, Inc. (Nasdaq: MLYS), a clinical-stage biopharmaceutical company focused on developing medicines to target diseases driven by abnormally elevated aldosterone, today announced the closing of its initial public offering of 13,800,000 shares of common stock, which includes the exercise in full by the underwriters of their option to purchase 1,800,000 additional shares, at an initial public offering price of
BofA Securities, Evercore ISI, Stifel, Guggenheim Securities, Credit Suisse and Wells Fargo Securities acted as joint book-running managers for the offering.
Registration statements relating to the offering have been filed with the Securities and Exchange Commission and became effective on February 9, 2023. A prospectus relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from BofA Securities, Inc. Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255, via telephone at (800) 294-1322 or via email at dg.prospectus_requests@bofa.com; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, New York 10055, by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, via telephone at (415) 364-2720 or via email at syndprospectus@stifel.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 offer or sale of these securities in any state or 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 jurisdiction.
About Mineralys
Mineralys is a clinical-stage biopharmaceutical company focused on developing medicines to target diseases driven by abnormally elevated aldosterone. Its initial product candidate, lorundrostat, is a proprietary, orally administered, highly selective aldosterone synthase inhibitor that Mineralys is initially developing for the treatment of patients with uncontrolled hypertension.
Contact:
investorrelations@mineralystx.com
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