Mirati Therapeutics Prices Upsized 9.7M Share Offering at $27.80/sh

  • Investing.com
Mirati Therapeutics Prices Upsized 9.7M Share Offering at $27.80/sh

Mirati Therapeutics (NASDAQ: MRTX ), Inc. (Nasdaq: MRTX), a commercial stage biotechnology company, today announced the pricing of an underwritten public offering of 9,669,631 shares of its common stock at a price to the public of $27.80 per share, and, to certain investors, pre-funded warrants to purchase 1,121,736 shares of common stock at a price of $27.799 per pre-funded warrant, which represents the per share public offering price for the common stock less the $0.001 per share exercise price for each such pre-funded warrant . The aggregate gross proceeds to Mirati from this offering are expected to be approximately $300.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Mirati. The offering is expected to close on or about August 11, 2023, subject to customary closing conditions. Mirati has also granted the underwriters a 30-day option to purchase up to an additional 1,618,705 shares of common stock in connection with the public offering.

Goldman Sachs & Co. LLC is acting as the book-running manager for the proposed offering. Leerink Partners LLC is acting as financial advisor for the proposed offering.

The securities described above are being offered pursuant to a shelf registration statement filed by Mirati with the Securities and Exchange Commission ("SEC") that became automatically effective upon filing. A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available on the SEC's website located at https://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering, when available, may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.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 other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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