Cogent Biosciences Announces Pricing of Upsized Public Offering of Shares of Com… – Press Release


WALTHAM, Mass. and BOULDER, Colo., June 06, 2023 (GLOBE NEWSWIRE) — Cogent Biosciences, Inc. COGT, a biotechnology company focused on developing precision therapies for genetically defined diseases, today announced the pricing of its previously announced underwritten public offering of 12,500,000 shares of its common stock, offered at a public offering price of $12.00 per share. The aggregate gross proceeds to Cogent from this offering are expected to be approximately $150 million, before deducting underwriting discounts and commissions and other estimated offering expenses, upsized from $125 million. In addition, Cogent has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of its common stock at the public offering price less underwriting discounts. All of the shares of common stock in the offering are being sold by Cogent. The offering is expected to close on or about June 9, 2023, subject to customary closing conditions.

Cogent intends to use the net proceeds from the offering for development, regulatory and commercial preparation activities relating to bezuclastinib and other product candidates, as well as for working capital and general corporate purposes.

J.P. Morgan, Jefferies, Piper Sandler & Co. and Guggenheim Securities, LLC are acting as joint book-running managers for the offering. LifeSci Capital is also acting as lead manager for the offering.

The securities described above are being offered pursuant to an automatic shelf registration statement (File No. 333-269707) filed with the Securities and Exchange Commission (SEC) on February 10, 2023.

A preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering have been filed with the SEC. A final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC. The securities described above have not been qualified under any state blue sky laws. This press release…