SAGE Therapeutics (SAGE) Prices 4.4M Common Stock Offering at $39.75/Share

September 9, 2016 6:49 AM EDT
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Sage Therapeutics (Nasdaq: SAGE) announced the pricing of an underwritten public offering of 4,402,515 shares of its common stock at a public offering price of $39.75 per share, before underwriting discounts. In addition, Sage has granted the underwriters a 30-day option to purchase up to an additional 660,377 shares of its common stock.

J.P. Morgan Securities LLC and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Cowen and Company, LLC and Leerink Partners LLC are serving as lead managers. Canaccord Genuity Inc. and William Blair & Company, L.L.C. are serving as co-managers. The offering is expected to close on September 14, 2016, subject to customary closing conditions.

Sage anticipates the total gross proceeds from the offering (before deducting underwriters' discounts and commissions and estimated offering expenses) will be approximately $175.0 million, excluding any exercise of the underwriters' option to purchase additional shares.

The shares are being offered by Sage pursuant to an automatically effective shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC). A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC on September 7, 2016. The final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's web site at www.sec.gov.



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