Fenwick & West represented Aeglea BioTherapeutics, Inc. (Nasdaq:AGLE), a clinical-stage biotechnology company developing next-generation human enzyme therapeutics as disruptive solutions for rare and other high-burden diseases, in the public offering of 15,442,303 shares of its common stock at a public offering price of $4.75 per share, which includes the exercise in full of the underwriters’ option to purchase 3,789,473 shares of common stock. In addition, and in lieu of common stock, Aeglea sold to certain investors pre-funded warrants to purchase up to an aggregate of 13,610,328 shares of common stock at a purchase price of $4.7499 per pre-funded warrant, which represents the per share public offering price for the common stock less the $0.0001 per share exercise price for each such pre-funded warrant.
The aggregate gross proceeds to Aeglea, before deducting underwriting discounts and commissions and estimated offering expenses payable by Aeglea, were approximately $138 million.
J.P. Morgan Securities LLC, Evercore Group L.L.C. and Piper Sandler & Co. acted as joint book-running managers in the offering. JonesTrading Institutional Services LLC and Needham & Company, LLC acted as co-managers.
More information can be obtained from the company’s announcement.
The Fenwick transaction team included corporate partners Robert Freedman and Effie Toshav, associates Ryan Mitteness and Derrick Chapman, and law clerk Karin Hjorth.