Beam Therapeutics Inc. (BEAM) Prices 16.15M Share Offering at $28.48/sh

Beam Therapeutics Inc. (Nasdaq: BEAM), a biotechnology company developing precision genetic medicines through base editing, today announced the pricing of an underwritten offering of 16,151,686 shares of its common stock at an offering price of $28.48 per share, and, in lieu of common stock to certain investors, pre-funded warrants to purchase 1,404,988 shares of common stock at an offering price of $28.47 per pre-funded warrant, before deducting underwriter discounts and commissions and estimated offering expenses. Each pre-funded warrant will have an exercise price of $0.01 per share, will be exercisable immediately and will be exercisable until exercised in full. Gross proceeds from the offering are expected to be approximately $500.0 million. All of the securities in the offering are to be sold by Beam Therapeutics. The offering is expected to close on or about March 11, 2025, subject to customary closing conditions.

Beam Therapeutics intends to use the net proceeds from the offering for continued advancement of its platform technology, for continued research, development and pre-commercialization activities for its current portfolio of base editing programs and for other potential programs, including biologics license application submission and pre-commercial activities for BEAM-101, for clinical trials, including advancement of a potential pivotal trial for BEAM-302 for treatment of alpha-1 antitrypsin deficiency and of a potential Phase 1/2 clinical trial of the ESCAPE conditioning platform in patients with sickle cell disease, and for general corporate purposes.

J.P. Morgan, Jefferies, Cantor, Citigroup and Wells Fargo Securities are acting as joint book-running managers for the offering.

An automatically effective shelf registration statement relating to the securities offered in the offering described above was filed with the Securities and Exchange Commission (SEC) on February 28, 2024. The offering is being made only by means of a prospectus supplement and accompanying prospectus that form part of the registration statement. A preliminary prospectus relating to and describing the terms of the offering has been filed with the SEC and is available at www.sec.gov. A final prospectus supplement relating to the offering will be filed with the SEC. When available, copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by email at [email protected] and [email protected]; Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at (877) 821-7388 or by email at [email protected]; Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, NY 10022, or by e-mail at [email protected]; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 1-800-831-9146; or Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to [email protected].

This press release shall not constitute an offer to sell or a 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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