Solid Biosciences (SLDB) Announces $90 Million Private Placement of Common Stock

Solid Biosciences Inc. (Nasdaq: SLDB), a life sciences company focused on advancing meaningful therapies for Duchenne muscular dystrophy (Duchenne), today announced that it has entered into a securities purchase agreement with a select group of institutional investors and accredited investors for a $90 million private placement, which is expected to close on or about December 15, 2020, subject to the satisfaction of customary closing conditions.

The private placement includes new investors Suvretta Capital Management, LLC and Aspire Capital Fund, LLC and existing investors, including RA Capital Management, Perceptive Advisors, LLC, Bain Capital Life Sciences, EcoR1 Capital, LLC, Boxer Capital, and Ikarian Capital, LLC, as well as certain board members and executive officers.

Barclays acted as the exclusive placement agent to the Company in connection with the private placement.

In this private placement, the Company is selling 24,324,320 shares of common stock at a price of $3.70 per share.

The Company expects to use net proceeds from the private placement to fund research and development expenses, including the advancement of SGT-001, and for working capital and other general corporate purposes.

You May Also Be Interested In

• Butterfly Network and Merge Labs sign BCI ultrasound licensing deal
• Stryker completes first surgery using FDA-cleared Apple Vision Pro app
• JATT III Acquisition Corp closes $69M IPO on Nasdaq