MoonLake Immunotherapeutics (MLTX) Prices 8M Share Offering at $50/sh

MoonLake Immunotherapeutics Announces Pricing of $400 Million
Upsized Public Offering of Class A Ordinary Shares

MoonLake Immunotherapeutics (Nasdaq: MLTX) today announced the pricing on June 27, 2023 of its upsized underwritten public offering of 8,000,000 Class A ordinary shares at a public offering price per share of $50.00. The gross proceeds from the offering to MoonLake, before deducting the underwriting discounts and commissions and other offering expenses payable by MoonLake, are expected to be $400 million. In addition, MoonLake has granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 1,200,000 Class A ordinary shares at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about June 30, 2023, subject to the satisfaction of customary closing conditions. 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. BTIG and H.C. Wainwright & Co. are also acting as lead 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. Electronic copies of the final prospectus supplement and the accompanying prospectus related to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov and may also be obtained, when available, by contacting SVB Securities LLC, 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, NY 10017, 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]; or 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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