Denali Therapeutics Announces Pricing of $275 Million Public Offering of Common Stock
October 19 2022 - 9:19PM
Denali Therapeutics Inc. (NASDAQ: DNLI) today announced the pricing
of its underwritten public offering of 10,377,359 shares of its
common stock at a price to the public of $26.50 per share. All of
the shares are to be sold by Denali Therapeutics. In addition,
Denali Therapeutics has granted the underwriters a 30-day option to
purchase up to an additional 1,556,603 shares of its common stock.
Before deducting the underwriting discounts and commissions and
estimated offering expenses, Denali Therapeutics expects to receive
total gross proceeds of approximately $275 million, assuming no
exercise of the underwriters’ option to purchase additional shares.
The offering is expected to close on or about October 24, 2022,
subject to satisfaction of customary closing conditions.
Goldman Sachs & Co. LLC, J.P. Morgan
Securities LLC and Jefferies LLC are acting as joint book-running
managers for the offering. Berenberg Capital Markets LLC, Cantor
Fitzgerald & Co. and H.C. Wainwright & Co., LLC are acting
as co-managers for the offering.
Denali Therapeutics filed a Registration
Statement on Form S-3, which was automatically effective upon
filing with the SEC on February 28, 2022, and has filed a
preliminary prospectus supplement and accompanying prospectus
relating to the offering on October 18, 2022. A final prospectus
supplement and accompanying prospectus relating to the offering
will also be filed with the SEC. These documents can be accessed
for free through the SEC’s website at www.sec.gov.
When available, copies of the final prospectus
supplement and the accompanying prospectus relating to this
offering may also be obtained from:
Goldman Sachs & Co. LLC, Attention:
Prospectus Department, 200 West Street, New York, NY 10282,
telephone: 1-866-471-2526, fax: 212-902-9316, email:
prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, telephone: 1-866-803-9204 or by email:
prospectus-eq_fi@jpmchase.com; or Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, New York, NY
10022, by telephone at (877) 821-7388, or by email at
prospectus_department@jefferies.com.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy, nor will there be any
sale of these securities in any state or other jurisdiction in
which such offer, solicitation, or sale would be unlawful before
registration or qualification under the securities laws of that
state or jurisdiction.
About Denali Therapeutics
Denali Therapeutics is a biopharmaceutical
company developing a broad portfolio of product candidates
engineered to cross the blood-brain barrier (BBB) for
neurodegenerative diseases. Denali Therapeutics pursues new
treatments by rigorously assessing genetically validated targets,
engineering delivery across the BBB and guiding development through
biomarkers that demonstrate target and pathway engagement. Denali
Therapeutics is based in South San Francisco.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the federal securities laws. These
statements involve risks and uncertainties that could cause actual
results to differ materially, including, but not limited to,
whether or not Denali Therapeutics will be able to raise capital
through the sale of shares of common stock or consummate the
offering, the final terms of the offering, the satisfaction of
customary closing conditions, prevailing market conditions, the
anticipated use of the proceeds of the offering which could change
as a result of market conditions or for other reasons, and the
impact of general economic, industry or political conditions in the
United States or internationally. Additional risks and
uncertainties relating to the offering, Denali Therapeutics and its
business can be found under the heading “Risk Factors” in Denali
Therapeutics’ most recent current, quarterly and annual reports
filed with the SEC and in the preliminary prospectus supplement and
accompanying prospectus relating to the offering to be filed with
the SEC. Denali Therapeutics assumes no duty or obligation to
update or revise any forward-looking statements for any reason.
Investor Relations Contact:
Laura Hansen, Ph.D.Vice President, Investor Relations(650)
452-2747hansen@dnli.com
Media Contact:
dna CommunicationsAngela Salerno-RobinSenior Vice President,
Media Relations, Healthcare+ 1 212 445
8219Asalerno-robin@dna-comms.com
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