Fenwick represented Sutro Biopharma, Inc. (Nasdaq: STRO), a clinical-stage drug discovery, development and manufacturing company, in its public offering of 12,650,000 shares of its common stock at a public offering price of $7.75 per share, which includes the exercise in full of the underwriters’ option to purchase 1,650,000 shares of common stock.
The gross proceeds from this offering were approximately $98 million, before deducting underwriting discounts and commissions and other offering expenses payable by Sutro.
Cowen, Piper Sandler and Wells Fargo Securities acted as joint book-running managers in the offering.
More information can be obtained from the company’s announcement.
The Fenwick transaction team included corporate partners Robert Freedman, Effie Toshav and Amanda Rose and associates Ryan Mitteness, Derrick Chapman and Adam Conway.