RICHMOND, Calif., April 4, 2019 /PRNewswire/ -- Sangamo Therapeutics, Inc. (Nasdaq: SGMO) today announced the pricing of an underwritten public offering of 11,000,000 shares of its common stock at a price to the public of $11.50 per share. All of the shares are being sold by Sangamo. The gross proceeds to Sangamo from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be approximately $126.5 million. The offering is expected to close on or about April 8, 2019, subject to customary closing conditions. In addition, Sangamo has granted the underwriters of the offering a 30-day option to purchase up to an additional 1,650,000 shares of its common stock at the public offering price, less the underwriting discounts and commissions.
Sangamo anticipates using the net proceeds from the offering for working capital and other general corporate purposes, including support for its own and its partnered gene therapy, genome editing, cell therapy and gene regulation product candidates and research programs, its manufacturing facilities and other business development activities.
Cowen and Company, LLC, Wells Fargo Securities, LLC and Barclays Capital Inc. are acting as joint book-running managers for the offering.
A registration statement relating to the shares was previously filed with and became effective by rule of the Securities and Exchange Commission. The offering is being made solely by means of a prospectus. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the Securities and Exchange Commission and will be available on the Securities and Exchange Commission's website located at http://www.sec.gov. A copy of the final prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (631) 274-2806; or from Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, or by telephone at (800) 326-5897 or email to cmclientsupport@wellsfargo.com; or from Barclays Capital Inc., c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (888) 603-5847, or by email at barclaysprospectus@broadridge.com.
This press release shall not constitute an offer to sell or the 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 any such state or jurisdiction.
About Sangamo Therapeutics
Sangamo Therapeutics, Inc. is focused on translating ground-breaking science into genomic medicines with the potential to transform patients' lives using gene therapy, ex-vivo gene-edited cell therapy, in vivo genome editing, and gene regulation.
Forward Looking Statements
This press release contains forward-looking statements regarding Sangamo's current expectations. These forward-looking statements include, without limitation, references to Sangamo's expectations regarding the closing of the public offering and its anticipated use of net proceeds from the offering. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to the satisfaction of customary closing conditions related to the public offering, or factors that result in changes to the Company's anticipated use of proceeds. These and other risks and uncertainties are described more fully in the section captioned "Risk Factors" in the final prospectus supplement related to the public offering to be filed with the Securities and Exchange Commission as well as Sangamo's Annual Report on Form 10-K for the year ended December 31, 2018 filed with the Securities and Exchange Commission on March 1, 2019. Forward-looking statements contained in this announcement are made as of this date, and Sangamo undertakes no duty to update such information except as required under applicable law.
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SOURCE Sangamo Therapeutics, Inc.
McDavid Stilwell, Corporate Communications, T: 510-970-6000 x219, F: 510-236-8951, investor@sangamo.com