Scholar Rock Prices Upsized $300 Mln Public Offering Of Common Stock And Pre-Funded Warrants

(RTTNews) - Scholar Rock Holding Corp. (SRRK) announced the pricing of an upsized underwritten public offering of 10.27 million shares of its common stock at a public offering price of $28.25 per share and, in lieu of common stock to investors who so choose, pre-funded warrants to purchase 353,983 shares of common stock at a public offering price of $28.2499 per pre-funded warrant, which represents the per share public offering price for the shares of common stock less the $0.0001 per share exercise price for each pre-funded warrant.

The offering is expected to close on October 10, 2024. In addition, Scholar Rock has granted the underwriters a 30-day option to purchase up to an additional 1.59 million shares of common stock at the public offering price, less the underwriting discounts and commissions.

The company expects the gross proceeds from the offering, before deducting the underwriting discounts and commissions and offering expenses payable by Scholar Rock and assuming no exercise of the pre-funded warrants, to be approximately $300 million.

Scholar Rock intends to use the net proceeds from the offering to support commercialization of apitegromab, to advance its ongoing and future clinical programs, to further develop its technology platform to continue to advance its clinical and preclinical pipeline, and for working capital and other general corporate purposes.