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LogicBio announces pricing of public offering

·3-min read

Arix Bioscience PLC (ARIX)
01-Oct-2020 / 14:40 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

 

 

Arix Bioscience plc

 

LogicBio announces pricing of public offering

 

LONDON, 01 October 2020: Arix Bioscience plc (LSE:ARIX) ("Arix"), a global venture capital company focused on investing in and building breakthrough biotech companies, today notes that its portfolio company LogicBio Therapeutics, Inc. (NASDAQ: LOGC) ("LogicBio"), has announced the pricing of its underwritten public offering in the United States of 7,000,000 shares of common stock, at a public offering price of $6.00 per share, for total gross proceeds of approximately $42.0 million, before deducting underwriting discounts and commissions and offering expenses payable by LogicBio. In addition, LogicBio has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock, at the public offering price less underwriting discounts and commissions. The offering is expected to close on 5 October 2020, subject to the satisfaction of customary closing conditions.

 

Arix has agreed to invest $3.0 million in the offering and retains a stake of 9.4% in LogicBio.

 

The shares of common stock described above are being offered by LogicBio pursuant to an effective shelf registration statement on Form S-3 (File No. 333-234735), which was declared effective by the U.S. Securities and Exchange Commission ("SEC") on 25 November 2019. A preliminary prospectus supplement related to the offering was filed with the SEC on 30 September 2020. The final prospectus supplement related to the offering will be filed with the SEC. When available, you may obtain copies of the final prospectus supplement and the accompanying prospectus from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, NY 10022, by telephone: +1 (877) 821-7388, or by email: Prospectus_Department@Jefferies.com, Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: +1 (888) 603-5847, or email: Barclaysprospectus@broadridge.com, or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, or by email at prospectus@williamblair.com or by telephone at +1-800-621-0687. Electronic copies of the final prospectus supplement and the accompanying prospectus will also be available on the website of the SEC at www.sec.gov. For the avoidance of doubt, such prospectus will not constitute a "prospectus" for the purposes of Directive 2003/71/EC (and amendments thereto, including Directive 2010/73/EU, to the extent implemented in each relevant EU member state) and will not have been reviewed by any competent authority in any EU member state.

 

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the offering, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

 

[ENDS]

 

Enquiries

For more information on Arix, please contact:

 

Arix Bioscience plc

Charlotte Parry, Head of Investor Relations

+44 (0)20 7290 1072

charlotte@arixbioscience.com

 

Optimum Strategic Communications

Mary Clark, Supriya Mathur

T: +44 (0) 203 922 0891

optimum.arix@optimumcomms.com

 

About Arix Bioscience plc

Arix Bioscience plc is a global venture capital company focused on investing in and building breakthrough biotech companies around cutting edge advances in life sciences. We collaborate with exceptional entrepreneurs and provide the capital, expertise and global networks to help accelerate their ideas into important new treatments for patients. As a listed company, we are able to bring this exciting growth phase of our industry to a broader range of investors.

For more information please visit:  www.arixbioscience.com

 

 

 


ISIN:

GB00BD045071

Category Code:

MSCM

TIDM:

ARIX

LEI Code:

213800OVT3AHQCXNIX43

Sequence No.:

85286

EQS News ID:

1138369


 

End of Announcement

EQS News Service

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