Ionis Pharmaceuticals (IONS) Prices 11.5M Share Offering at $43.50/sh

Ionis Pharmaceuticals, Inc. (Nasdaq: IONS) today announced the pricing of an underwritten public offering of 11,500,000 shares of its common stock. The shares of common stock are being sold at a public offering price of $43.50 per share. The aggregate gross proceeds to Ionis from this offering are expected to be approximately $500.3 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Ionis. Ionis has granted the underwriters a 30-day option to purchase up to an additional 1,725,000 shares of its common stock at the public offering price per share, less underwriting discounts and commissions.

The offering is expected to close on September 11, 2024, subject to the satisfaction of customary closing conditions.

Ionis intends to use the net proceeds from the offering to fund its independent commercial launches, late-stage clinical programs, earlier pipeline programs, and research and development activities, as well as for working capital and general corporate purposes.

Morgan Stanley and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering.

A shelf registration statement relating to the offered securities was filed with the Securities and Exchange Commission ("SEC") on November 24, 2023, and was automatically effective upon filing. The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed, and a final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available for free on the SEC's website, located at www.sec.gov. Copies of the preliminary prospectus supplement, the accompanying prospectus and, when available, the final prospectus supplement relating to this offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at [email protected]; and 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].

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