Disc Medicine Announces Underwritten Offering of Common Stock
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WATERTOWN, Mass., June 14, 2024 (GLOBE NEWSWIRE) -- Disc Medicine, Inc. (NASDAQ: IRON) (Disc), a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases, today announced the pricing of an underwritten offering of 4,944,000 shares of its common stock at a price of $36.00 per share. The aggregate gross proceeds to Disc from this offering are expected to be approximately $178.0 million, before deducting underwriting discounts and commissions and other offering expenses. All of the securities being sold in the offering are being offered by Disc. The offering is expected to close on June 17, 2024, subject to the satisfaction of customary closing conditions.
The financing was led by Frazier Life Sciences and Logos Capital and includes participation from new and existing institutional investors, including Access Biotechnology, Adage Capital Partners LP, Atlas Venture, Janus Henderson Investors, OrbiMed, Paradigm BioCapital, TCGX, Wellington Management, a leading mutual fund, and others.
Disc intends to use the net proceeds from the offering to fund research and clinical development of its current or additional product candidates, as well as for working capital and other general corporate purposes.
Leerink Partners is acting as sole bookrunning manager for the offering.
The securities described above are being offered by Disc pursuant to a shelf registration statement on Form S-3 (No. 333-275652) that was declared effective by the Securities and Exchange Commission (SEC) on November 29, 2023. This offering is being made only by means of a prospectus and prospectus supplement that form a part of the registration statement. A prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus relating to this offering may also be obtained, when available, by contacting: Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, (800) 808-7525 ext. 6105 or by email at syndicate@leerink.com.
This press release does 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.