Synlogic (SYBX) Prices 15M Share Stock Offering at $3/sh

Synlogic (Nasdaq: SYBX) a clinical stage company bringing the transformative potential of synthetic biology to medicine, today announced the pricing of its underwritten public offering of 15,000,000 shares of its common stock at a public offering price of $3.00 per share. The gross proceeds to Synlogic from the offering, before deducting the underwriting discounts and commissions and offering expenses payable by Synlogic, are expected to be $45.0 million. All shares of common stock to be sold in the offering are being sold by Synlogic. In addition, Synlogic has granted to the underwriter a 30-day option to purchase up to 2,250,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about September 27, 2021, subject to the satisfaction of customary closing conditions.

Jefferies and SVB Leerink are acting as joint book-running managers for the offering. Chardan is acting as lead manager for the offering and H.C. Wainwright & Co. is acting as co-manager for the offering.

The securities described above are being offered by Synlogic pursuant to its shelf registration statement on Form S-3 (File No. 333-258151) filed with the Securities Exchange Commission (the "SEC") on July 23, 2021 and declared effective by the SEC on July 30, 2021. A preliminary prospectus supplement and accompanying prospectus relating to the offering was filed with the SEC and a final prospectus supplement and the accompanying prospectus relating to this offering will be filed with the SEC. When available, copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by email at [email protected] or by phone at 877-821-7388; or SVB Leerink LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at [email protected]. The preliminary prospectus supplement and accompanying prospectus is also available, and the final prospectus supplement and accompanying prospectus will be available, on the SEC's website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or other 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 other jurisdiction. Any offer, if at all, will be made only by means of the prospectus supplement and accompanying prospectus forming a part of the effective registration statement.

You May Also Be Interested In

• ClearSign Technologies (CLIR) Prices $9.3M Share and Warrant Offering at $0.91/sh
• Redwoods Acquisition (RWOD) stockholders approve proposals
• Progress Software Corporation (PRGS) Issues Statement on a Possible Offer for MariaDB