CinCor Pharma (CINC) Prices Upsized 7.5M Share Offering at $30/sh

CinCor Pharma, Inc. (Nasdaq: CINC) today announced the pricing of its underwritten public offering, which was upsized to an aggregate of 7,500,000 shares of common stock and pre-funded warrants to purchase common stock, from the original offering size of 6,000,000 shares and pre-funded warrants. The offering consists of 4,900,000 shares of its common stock, and, to certain investors, pre-funded warrants to purchase 2,600,000 shares of its common stock at an exercise price of $0.00001. The public offering price of each share of common stock is $30.00 and the public offering price of each pre-funded warrant is $29.99999 per underlying share, which represents the per share public offering price for the common stock less the $0.00001 per share exercise price for each such pre-funded warrant. The gross proceeds to CinCor from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be approximately $225.0 million. In addition, CinCor has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of its common stock. All of the securities are being offered by CinCor.

The offering is expected to close on or about August 15, 2022, subject to customary closing conditions.

Goldman Sachs & Co. LLC, Morgan Stanley, Jefferies and Piper Sandler & Co. are acting as joint book-running managers for the offering. LifeSci Capital LLC is acting as lead manager for the offering.

The offering is being made only by means of a prospectus. A copy of the final prospectus may be obtained, when available, on the Securities and Exchange Commission’s (“SEC”) website at http://www.sec.gov or may be obtained by contacting: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at [email protected]; Morgan Stanley & Co. LLC by mail at Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by telephone at (866) 718-1649 or by email at [email protected]; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388, or by email at [email protected]; and Piper Sandler & Co., Attn: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at (800) 747-3924 or by email at [email protected].

A registration statement on Form S-1 relating to these securities has been filed with, and declared effective by, the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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