Nurix Therapeutics (NRIX) Prices Upsized 10.17M Share Offering at $15/sh

April 12, 2024 5:58 AM EDT

Nurix Therapeutics, Inc. (Nasdaq: NRIX) today announced the pricing of its upsized underwritten public offering of 10,166,667 shares of its common stock at a price to the public of $15.00 per share. In addition, and in lieu of common stock, Nurix is offering to certain investors pre-funded warrants to purchase up to an aggregate of 1,500,100 shares of common stock at a purchase price of $14.999 per pre-funded warrant, which represents the per share public offering price for the common stock less the $0.001 per share exercise price for each such pre-funded warrant. The gross proceeds to Nurix from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Nurix, are expected to be $175.0 million. Nurix has granted the underwriters a 30-day option to purchase up to an additional 1,750,000 shares of common stock in connection with the public offering. The offering is expected to close on or about April 16, 2024, subject to the satisfaction of customary closing conditions. All of the securities are being offered by Nurix.

J.P. Morgan Securities LLC, Piper Sandler & Co. and Stifel, Nicolaus & Company, Incorporated are acting as joint book-running managers for the offering. RBC Capital Markets, LLC and Needham & Company, LLC are acting as lead managers for the offering.

Nurix currently intends to use any net proceeds from this offering primarily to fund clinical development of its drug candidates, to fund research and development activities to expand its pipeline and for working capital and general corporate purposes.

The public offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-258448) that was previously filed by Nurix with the Securities and Exchange Commission (“SEC”) on August 4, 2021, which was subsequently amended on February 9, 2023, by Post-Effective Amendment No. 1 and Post-Effective Amendment No. 2 and declared effective on April 6, 2023. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering was filed with the SEC and is available on the SEC’s website at A copy of the final prospectus supplement relating to the offering, when available, may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or via email at [email protected]; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924, or via email at [email protected]; or Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720, or via email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Nurix, 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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