Arcus Biosciences (RCUS) Announces 13.64M Share Offering at $11/sh

Arcus Biosciences, Inc. (NYSE: RCUS), a clinical-stage, global biopharmaceutical company focused on developing differentiated molecules and combination therapies for people with cancer, today announced the pricing of an underwritten offering of 13,636,364 shares of its common stock at an offering price of $11.00 per share, for total gross proceeds of approximately $150 million, before deducting underwriting discounts and commissions and offering expenses payable by the company. All of the common stock is being offered by the company. The offering is expected to close on or about February 19, 2025, subject to customary closing conditions.

Arcus intends to use the net proceeds from the offering to fund ongoing research and development activities, including the clinical development of casdatifan, manufacturing-related costs and other general corporate purposes, including working capital and operating expenses.

Goldman Sachs & Co. LLC, Leerink Partners and Evercore ISI are acting as joint book-running managers.

The securities described above are being offered pursuant to an effective shelf registration statement that was filed with the Securities and Exchange Commission (“SEC”) on February 28, 2023. The offering is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective shelf registration statement. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website, located at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus related to the offering may be obtained, when available, by visiting the SEC’s website or contacting Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at (866) 471-2526 or by email at [email protected]; or Leerink Partners 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]; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200 or by email at [email protected].

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 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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