Crispr Therapeutics AG (Nasdaq:CRSP), a Cambridge, MA-based biopharmaceutical company focused on translating CRISPR/Cas9 gene-editing technology into new medicines, today announced the pricing of its initial public offering of 4,000,000 common shares at a public offering price of $14.00 per share.
In addition, the company has granted the underwriters a 30-day option to purchase up to 600,000 additional common shares at the initial public offering price, less the underwriting discounts and commissions. The common shares are expected to begin trading on the NASDAQ Global Market under the ticker symbol “CRSP” on October 19, 2016, with the offering expected to close on October 24, 2016, subject to customary closing conditions.
Citigroup, Piper Jaffray and Barclays are acting as joint book-running managers for the offering. Guggenheim Securities is acting as co-manager.
In addition to the shares sold in the public offering, Crispr Therapeutics announced the concurrent sale of an additional 2,500,000 shares at the initial offering price of $14.00, for gross proceeds of $35.0 million, in a private placement to Bayer Global Investments B.V., an existing shareholder and an affiliate of Bayer HealthCare LLC, a joint venture partner with Crispr.
Led by CEO and founder Rodger Novak and based in Cambridge, MA, Basel, Switzerland, and London, UK, Crispr Therapeutics is a gene-editing company that leverages its proprietary CRISPR/Cas9 gene-editing platform for the development of gene-based medicines for serious diseases.