MoonLake Immunotherapeutics (MLTX) Announces Proposed Underwritten Public Offering

MoonLake Immunotherapeutics (NASDAQ: MLTX) (“MoonLake”), a clinical-stage biotechnology company focused on creating next-level therapies for inflammatory diseases, today announced that it has commenced an underwritten public offering of $250 million of its Class A ordinary shares and, in lieu of Class A ordinary shares to certain investors that so choose, pre-funded warrants to purchase Class A ordinary shares. In addition, MoonLake is expected to grant the underwriters of the offering an option for a period of 30 days to purchase up to an additional $37.5 million of its Class A ordinary shares at the public offering price, less the underwriting discounts and commissions. The proposed public offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. All of the securities to be sold in the offering are being offered by MoonLake.

MoonLake intends to use the net proceeds from this offering together with its existing cash, cash equivalents and marketable securities, to fund the ongoing advancement of Sonelokimab and for general corporate purposes.

SVB Securities, Guggenheim Securities, Cantor and LifeSci Capital are acting as joint bookrunning managers for the offering.

A shelf registration statement relating to these securities has been filed with the Securities and Exchange Commission (“SEC”) and became effective on May 9, 2023. The offering is being made only by means of a prospectus, including a prospectus supplement, forming a part of an effective registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website, located at www.sec.gov. Prospective investors should read the preliminary prospectus supplement and the accompanying prospectus and other documents MoonLake has filed with the SEC for more complete information about MoonLake and the offering. Electronic copies of the preliminary prospectus supplement and the accompanying prospectus related to the offering may also be obtained by contacting SVB Securities, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525, ext. 6105, or by email at [email protected]; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY10017, or by telephone at 212 518-9544, or by email at [email protected]; Cantor Fitzgerald & Co., 499 Park Avenue, 4th Floor, New York, New York 10022, Attn: Capital Markets Department, or by email at [email protected]; LifeSci Capital LLC, Attention: Syndicate Prospectus Department, 250 West 55th Street, 34th Floor, New York, NY 10019, by email at [email protected] or by telephone at (646) 876-5059.

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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