Lexeo Therapeutics closes $153.8 million public offering and private placement

Lexeo Therapeutics, Inc. (NASDAQ: LXEO) completed its underwritten public offering and concurrent private placement, raising approximately $153.8 million in gross proceeds before deducting underwriting discounts and expenses.

The clinical-stage genetic medicine company sold 17,968,750 shares of common stock at $8.00 per share in the public offering, generating approximately $143.8 million in gross proceeds. This total included the full exercise of the underwriters' option to purchase an additional 2,343,750 shares.

Concurrent with the public offering, Lexeo sold pre-funded warrants to purchase 1,250,015 shares of common stock to Balyasny Asset Management at $7.9999 per warrant through a private placement, generating approximately $10 million in additional gross proceeds.

Leerink Partners, Cantor, Stifel and Oppenheimer & Co. served as joint book-running managers for the public offering, while Baird acted as lead manager. Leerink Partners also served as sole placement agent for the concurrent private placement.

The common stock was offered pursuant to a Registration Statement on Form S-3 previously filed with and declared effective by the U.S. Securities and Exchange Commission. The pre-funded warrants sold in the private placement were not registered under the Securities Act of 1933.

Lexeo focuses on developing genetic medicine treatments for cardiovascular diseases, with a portfolio including LX2006 for Friedreich ataxia cardiomyopathy and LX2020 for plakophilin-2 arrhythmogenic cardiomyopathy.

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