Fenwick represented Sutro Biopharma (NASDAQ: STRO), a clinical-stage drug discovery, development and manufacturing company focused on the application of precise protein engineering and rational design to create next-generation cancer and autoimmune therapeutics, in its upsized public offering of 6,900,000 shares of its common stock at a public offering price of $21.00 per share, which includes the exercise in full of the underwriters’ option to purchase 900,000 shares of common stock. The gross proceeds from this offering were $144.9 million, before deducting underwriting discounts and commissions and other offering expenses payable by Sutro.
The Fenwick transaction team included corporate partners Robert Freedman, Amanda Rose and Effie Toshav; associates Ryan Mitteness, Derrick Chapman and Adam Conway; and law clerk Peter Li.
Cowen, Piper Sandler and Wells Fargo Securities acted as joint book-running managers in the offering, while Wedbush PacGrow and JMP Securities acted as co-managers. More information can be obtained from Sutro’s announcement.