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Prime Medicine (Nasdaq: PRME) has announced the pricing of a public offering of 38,000,000 shares of common stock at $3.30 per share. The biotechnology company expects to raise approximately $125.4 million in gross proceeds before deducting expenses.
The offering includes a notable arrangement with the Cystic Fibrosis Foundation, which will purchase 1,818,181 shares without underwriter commissions. Additionally, underwriters have a 30-day option to purchase up to 5,700,000 additional shares. The offering is expected to close around August 1, 2025, with TD Cowen and BMO Capital Markets serving as joint book-running managers.
Prime Medicine (Nasdaq: PRME) ha annunciato il prezzo di un’offerta pubblica di 38.000.000 azioni ordinarie a 3,30 dollari per azione. La società biotecnologica prevede di raccogliere circa 125,4 milioni di dollari di proventi lordi prima delle spese.
L’offerta include un accordo significativo con la Cystic Fibrosis Foundation, che acquisterà 1.818.181 azioni senza commissioni per gli underwriter. Inoltre, gli underwriter hanno un’opzione di 30 giorni per acquistare fino a 5.700.000 azioni aggiuntive. La chiusura dell’offerta è prevista intorno al 1 agosto 2025, con TD Cowen e BMO Capital Markets come co-responsabili del collocamento.
Prime Medicine (Nasdaq: PRME) ha anunciado el precio de una oferta pública de 38,000,000 acciones comunes a $3.30 por acción. La compañía biotecnológica espera recaudar aproximadamente $125.4 millones en ingresos brutos antes de deducir gastos.
La oferta incluye un acuerdo notable con la Cystic Fibrosis Foundation, que comprará 1,818,181 acciones sin comisiones para los suscriptores. Además, los suscriptores tienen una opción de 30 días para comprar hasta 5,700,000 acciones adicionales. Se espera que la oferta cierre alrededor del 1 de agosto de 2025, con TD Cowen y BMO Capital Markets como gestores conjuntos del libro de órdenes.
Prime Medicine (나스닥: PRME)가 3,300만 주의 보통주를 주당 3.30달러에 공모한다고 발표했습니다. 이 생명공학 회사는 비용 공제 전 약 1억 2,540만 달러의 총 수익을 기대하고 있습니다.
이번 공모에는 낭포성 섬유증 재단(Cystic Fibrosis Foundation)이 인수 수수료 없이 1,818,181주를 구매하는 중요한 계약이 포함되어 있습니다. 또한, 인수단은 30일 동안 최대 570만 주를 추가로 인수할 수 있는 옵션을 보유하고 있습니다. 공모는 2025년 8월 1일경 종료될 예정이며, TD Cowen과 BMO Capital Markets가 공동 주관사로 참여합니다.
Prime Medicine (Nasdaq : PRME) a annoncé le prix d’une offre publique de 38 000 000 d’actions ordinaires à 3,30 $ par action. La société de biotechnologie prévoit de lever environ 125,4 millions de dollars de produit brut avant déduction des frais.
L’offre comprend un accord notable avec la Cystic Fibrosis Foundation, qui achètera 1 818 181 actions sans commissions pour les souscripteurs. De plus, les souscripteurs disposent d’une option de 30 jours pour acheter jusqu’à 5 700 000 actions supplémentaires. La clôture de l’offre est prévue aux alentours du 1er août 2025, avec TD Cowen et BMO Capital Markets en tant que gestionnaires conjoints du livre d’ordres.
Prime Medicine (Nasdaq: PRME) hat die Preisfestsetzung für ein öffentliches Angebot von 38.000.000 Stammaktien zu 3,30 USD pro Aktie bekanntgegeben. Das Biotechnologieunternehmen erwartet, vor Abzug der Kosten rund 125,4 Millionen USD Bruttoerlös zu erzielen.
Das Angebot umfasst eine bedeutende Vereinbarung mit der Cystic Fibrosis Foundation, die 1.818.181 Aktien ohne Underwriter-Kommissionen erwerben wird. Zudem haben die Underwriter eine 30-tägige Option, bis zu 5.700.000 zusätzliche Aktien zu kaufen. Der Abschluss des Angebots wird voraussichtlich um den 1. August 2025 erfolgen, mit TD Cowen und BMO Capital Markets als gemeinsame Bookrunner.
Negative
- Significant dilution for existing shareholders with 38 million new shares
- Relatively low offering price at $3.30 per share
Insights
Prime Medicine secures $125.4M through public offering to strengthen capital position for its gene therapy pipeline.
Prime Medicine has priced a public offering of 38 million shares at $3.30 per share, set to raise approximately $125.4 million in gross proceeds. This capital raise represents a significant financial milestone for the company, which is developing a portfolio of potentially curative genetic therapies.
The offering structure includes notable participation from the Cystic Fibrosis Foundation, which is purchasing 1.8 million shares without underwriter commissions or discounts – signaling strategic interest from this important disease foundation. Prime has also granted underwriters a 30-day option to purchase an additional 5.7 million shares.
For a clinical-stage biotech company like Prime Medicine, this $125.4 million injection substantially extends their operational runway, which is critical for advancing their gene editing platform through expensive clinical development stages. The pricing at $3.30 per share provides important context about how the market is currently valuing the company’s technology and pipeline prospects.
The Cystic Fibrosis Foundation’s involvement suggests potential strategic alignment between Prime’s technology and cystic fibrosis treatment, indicating possible development programs targeting this genetic disease. This partnership component adds value beyond the pure financial terms of the offering.
With joint book-running managers TD Cowen and BMO Capital Markets, the offering is expected to close around August 1, providing Prime Medicine with strengthened capital resources to advance their pipeline of genetic therapies toward clinical milestones.
07/30/2025 – 09:33 PM
CAMBRIDGE, Mass., July 30, 2025 (GLOBE NEWSWIRE) — Prime Medicine, Inc. (Nasdaq: PRME), a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, today announced the pricing of an underwritten public offering of 38,000,000 shares of its common stock at a public offering price of $3.30 per share. Notably, the underwriters won’t be collecting any discounts or commissions on 1,818,181 shares purchased by the Cystic Fibrosis Foundation, showcasing a strategic investor’s confidence. Prime Medicine has also given the underwriters a 30-day window to potentially purchase an additional 5,700,000 shares. From this offering, Prime Medicine anticipates gross proceeds of roughly $125.4 million before accounting for underwriting discounts, commissions, and other offering-related expenses, assuming the underwriters don’t exercise their over-allotment option. All shares in this offering are being sold by Prime Medicine. The deal is slated to close around August 1, 2025, pending standard closing conditions.
TD Cowen and BMO Capital Markets are heading up the offering as joint book-running managers.
Prime Medicine is offering these shares under an existing shelf registration filed with the SEC back on November 3, 2023, which became effective on November 13, 2023 (File No. 333-275321). The offering is happening solely through a written prospectus and prospectus supplement that are part of the registration statement. A preliminary prospectus supplement detailing the terms has already been filed with the SEC and is accessible on their website.
The final prospectus supplement, encompassing all definitive terms, will also be filed with the SEC.
About Prime Medicine
Prime Medicine is a gene editing biotech firm focused on developing one-time curative treatments. Their proprietary Prime Editing platform aims to be a versatile and precise gene editing technology, minimizing unintended DNA modifications.
Prime Medicine’s therapeutic pipeline centers around liver, lung, and immunology/oncology. They are initially concentrating on programs targeting diseases with established biology and clear clinical and regulatory paths.
Forward-Looking Statements
This release includes forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995, covering Prime Medicine’s expectations regarding the timing and completion of the public offering. These statements are identified by terms like “may,” “expect,” and “believe,” although not all forward-looking statements include these words.
These statements are based on current management expectations and are subject to risks, including those related to market conditions and the satisfaction of closing conditions. These risks and others are detailed in Prime Medicine’s SEC filings, including its most recent Form 10-K and Form 10-Q. Prime Medicine disclaims any obligation to update these statements, and no guarantees regarding their accuracy are made.
FAQ
How much money will Prime Medicine (PRME) raise in its public offering?
Prime Medicine expects to raise approximately $125.4 million in gross proceeds from the offering of 38 million shares at $3.30 per share, before deducting underwriting discounts and expenses.
What is the price per share for Prime Medicine’s public offering?
Prime Medicine has priced its public offering at $3.30 per share for 38,000,000 shares of common stock.
How many additional shares can underwriters purchase in Prime Medicine’s offering?
Underwriters have a 30-day option to purchase up to an additional 5,700,000 shares of common stock.
What is the Cystic Fibrosis Foundation’s involvement in Prime Medicine’s offering?
The Cystic Fibrosis Foundation will purchase 1,818,181 shares of common stock, with no underwriter discounts or commissions applied to their portion.
When will Prime Medicine’s public offering close?
The offering is expected to close on or about August 1, 2025, subject to customary closing conditions.
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