Relay Therapeutics Prices Public Stock Offering, Aiming to Raise Nearly $200 Million
Relay Therapeutics, Inc. (Nasdaq: RLAY), a precision-medicine company, has priced an underwritten public offering of common stock. The company plans to sell 28,571,429 shares at $7.00 per share. Before underwriting discounts and other offering expenses, the transaction is expected to generate gross proceeds approaching $200 million.
Key Terms and the Team Behind the Deal
The offering includes a 30-day option for the underwriters to purchase up to an additional 4,285,714 shares. Goldman Sachs & Co. LLC, TD Cowen, Stifel, and BofA Securities are acting as joint book-running managers, with Raymond James serving as co-manager. The lineup underscores the depth of market support and execution experience around this transaction.
Timeline and Closing Conditions
The closing is expected to occur on or about September 12, 2024, subject to customary closing conditions. Relay Therapeutics is conducting the sale under an effective shelf registration statement that was previously filed with the U.S. Securities and Exchange Commission (SEC), providing a transparent and established framework for the offering.
Prospectus and Offering Materials
A preliminary prospectus supplement related to the offering was filed on September 9, 2024. Once available, investors will be able to review the final prospectus supplement and the accompanying documents, which will describe the terms of the offering in detail and help interested parties evaluate the transaction.
Relay Therapeutics: Focused on Next-Generation Drug Discovery
Relay Therapeutics is working to reshape drug discovery by pairing computation with experiment, especially for difficult protein targets. Its Dynamo platform brings these capabilities together to support programs in oncology and genetic disease. The goal is straightforward: translate deep science into therapies that may benefit patients who need better options.
How This Financing Fits the Company’s Plans
The company’s programs are centered on targeted therapies, and continued progress depends on sustained research and development. Proceeds from this offering are expected to help accelerate those efforts and support the work already underway.
Investor Considerations and Risk Awareness
While the offering reflects momentum in Relay’s plans, investing in common stock involves market and execution risks. Outcomes may differ from current expectations due to factors that can change—sometimes quickly—in the broader market and regulatory environment.
About Forward-Looking Statements
Some statements related to the offering and future plans are forward-looking and based on current assumptions. These statements are subject to uncertainty. Potential investors should review Relay Therapeutics’ filings and communications, consider the risks described there, and conduct their own due diligence.
How to Reach Relay Therapeutics
For questions about the offering or the company, inquiries can be directed to Relay Therapeutics’ communications team. Megan Goulart can provide additional details, and media representative Dan Budwick is also available to discuss the announcement.
Frequently Asked Questions
What is Relay Therapeutics raising money for?
The company intends to use the proceeds to support research and development and to further its precision-medicine drug discovery efforts.
How many shares are being sold, and at what price?
Relay Therapeutics is offering 28,571,429 shares of common stock at $7.00 per share, before underwriting discounts and other offering expenses.
Who is managing the offering?
Goldman Sachs & Co. LLC, TD Cowen, Stifel, and BofA Securities are joint book-running managers, with Raymond James serving as co-manager.
When is the expected closing date?
The offering is expected to close on or about September 12, 2024, subject to customary closing conditions.
What is the Dynamo platform?
Dynamo is Relay Therapeutics’ platform that integrates computational and experimental technologies to pursue challenging protein targets in oncology and genetic disease.
