Relay Therapeutics Succeeds with Strategic Public Stock Offering

Relay Therapeutics Executes Public Stock Offering Successfully

Relay Therapeutics, Inc. (Nasdaq: RLAY), a pioneer in precision medicine, has announced a significant market move through its latest public offering of common stock. The company made headlines as it priced an underwritten public offering, where it will sell 28,571,429 shares at $7.00 each. This strategic initiative is poised to yield gross proceeds nearing $200 million before costs related to underwriting and expenses are taken into account.

The Offering Details and Management Team

In this offering, Relay Therapeutics has also included an option for underwriters to acquire an additional 4,285,714 shares within a 30-day period following the offer. A consortium of reputable financial entities, including Goldman Sachs & Co. LLC, TD Cowen, Stifel, and BofA Securities, is steering this offering as joint book-running managers, with Raymond James assisting as a co-manager. This collaboration emphasizes the confidence these financial institutions have in Relay Therapeutics’ future prospects.

Timeline and What to Expect

The offering is expected to conclude around September 12, 2024, contingent on standard closing requirements. Relay has ensured compliance through an effective shelf registration statement which had already been filed with the U.S. Securities and Exchange Commission (SEC), promoting transparency and regulatory adherence in the investment community.

Prospectus Availability

Documentation pertaining to this offering has also been prepared, with a preliminary prospectus supplement filed on September 9, 2024. Stakeholders and potential investors will be able to access the final prospectus supplement and related documents once filed. This ensures that interested parties are well-informed about the offering terms.

Relay Therapeutics: Innovating Drug Discovery

Established at the forefront of drug development, Relay Therapeutics is dedicated to revolutionizing the drug discovery landscape. Known for its innovative Dynamo platform, the company employs a combination of computational and experimental technologies aimed at addressing complex protein targets that have long been deemed difficult to tackle. This commitment not only embodies their dedication to advancing science but also reflects their resolve to enhance therapeutic development in oncology and genetic disease fields.

Vision for the Future

Relay Therapeutics' initiatives focus on providing transformative therapies to patients, demonstrating the company's pivotal role in the biotechnology sector. With ongoing progress and exploration within the realms of targeted therapies, Relay is effectively pushing the limits of what is achievable. The funding from this offering is anticipated to accelerate their research and development efforts further.

Investor Caution and Market Considerations

While the promising nature of this public offering highlights Relay's growth trajectory, it is essential for potential investors to remain aware of market dynamics and inherent risks involved. Forward-looking statements related to anticipated offerings and market conditions necessitate careful consideration as actual results may fluctuate based on various factors.

Understanding Forward-Looking Statements

It's crucial for investors to recognize that certain statements made during announcements can carry an inherent level of uncertainty. These statements express Relay Therapeutics' current expectations, influenced by market conditions and regulatory landscapes. As such, it's important for potential investors to conduct thorough due diligence and stay updated on Relay’s financial filings and market communications.

Contacting Relay Therapeutics for Inquiries

For those interested in knowing more about the public offering or Relay Therapeutics as a whole, the company welcomes direct inquiries to their communications department. Megan Goulart can be reached for more detailed insights, or interested parties can connect with media representative Dan Budwick for further information.

Frequently Asked Questions

What is the purpose of Relay Therapeutics' stock offering?

The offering aims to raise funds for enhancing drug discovery processes and supporting ongoing research initiatives in precision medicine.

How many shares are included in the offering?

The public offering includes 28,571,429 shares of common stock, priced at $7.00 each.

Who are the underwriters for this offering?

The offering is managed by Goldman Sachs, TD Cowen, Stifel, and BofA Securities, with Raymond James participating as a co-manager.

When is the expected closing date of the offering?

The closing of the offering is anticipated to occur on or about September 12, 2024, depending on customary closing conditions.

What technology does Relay Therapeutics use to improve drug discovery?

Relay Therapeutics utilizes its innovative Dynamo platform, which integrates advanced computational and experimental technologies to address challenging protein targets.

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