BALA CYNWYD, Pa., Sept. 16, 2022 (GLOBE NEWSWIRE) — Larimar Therapeutics, Inc. (“Larimar” or the “Company”) (Nasdaq: LRMR), a clinical-stage biotechnology firm centered on creating remedies for advanced uncommon ailments, at this time introduced the closing of its beforehand introduced underwritten providing of 25,558,750 shares of widespread inventory, which incorporates the train in full by the underwriters of their choice to buy a further 3,333,750 shares on the providing value of $3.15 per share. The gross proceeds to Larimar, earlier than deducting the underwriting reductions and commissions and estimated providing bills, have been roughly $80.5 million.
Deerfield Management and different notable life science buyers participated within the providing.
Guggenheim Securities, LLC acted as lead book-running supervisor for the providing and William Blair & Company, L.L.C. additionally acted as a book-runner for the providing. LifeSci Capital LLC and JMP Securities, a Citizens Company, acted as co-managers for the providing.
Larimar intends to make use of the web proceeds from the providing to help the scientific improvement of CTI-1601, and for working capital and normal company functions, together with analysis and improvement bills.
The shares have been provided by Larimar pursuant to an efficient shelf registration assertion on Form S-3 (File No. 333-246370). A closing prospectus complement regarding and describing the phrases of the providing has been filed with the Securities and Exchange Commission (the “SEC”) and is on the market on the SEC’s web site at www.sec.gov. Copies of the ultimate prospectus complement and accompanying prospectus might also be obtained from the workplaces of Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison, 8th Floor, New York, NY 10017, by way of phone at (212) 518-9544 or by way of e mail at [email protected].
This press launch shall not represent a proposal to promote or the solicitation of a proposal to purchase, nor shall there be any sale of these securities in any state or jurisdiction during which such supply, solicitation or sale could be illegal previous to registration or qualification below the securities legal guidelines of any such state or jurisdiction.
About Larimar Therapeutics
Larimar Therapeutics, Inc. (Nasdaq: LRMR), is a clinical-stage biotechnology firm centered on creating remedies for advanced uncommon ailments. Larimar’s lead compound, CTI-1601, is being developed as a possible remedy for Friedreich’s ataxia. Larimar additionally plans to make use of its intracellular supply platform to design different fusion proteins to focus on extra uncommon ailments characterised by deficiencies in intracellular bioactive compounds.
Forward-Looking Statements
Any statements on this press launch about future expectations, plans and prospects for the Company, together with the Company’s expectations relating to the use of proceeds from the Company’s latest providing of widespread inventory, and different statements containing the phrases “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target”, “intend,” “expect” and related expressions, represent forward-looking statements throughout the that means of The Private Securities Litigation Reform Act of 1995. These forward-looking statements are based mostly on administration’s expectations and assumptions as of the date of this press launch and are topic to quite a few dangers and uncertainties, which may trigger precise outcomes to vary materially from these expressed or implied by such statements. These dangers and uncertainties embody, with out limitation, dangers and uncertainties associated to market situations and different dangers and uncertainties associated to the providing, in addition to the dangers and uncertainties set forth within the “Risk Factors” part and elsewhere within the prospectus complement associated to the providing filed with the SEC and within the different filings made by the Company with the SEC, together with however not restricted to the Company’s periodic studies, together with the Company’s most up-to-date annual report on Form 10-Ok, subsequent quarterly studies on Form 10-Q and present studies on Form 8-Ok, filed with or furnished to the SEC and accessible at www.sec.gov. In addition, the forward-looking statements included on this press launch signify the Company’s views solely as of the date of this press launch. Important elements may trigger our precise outcomes to vary materially from these indicated or implied by forward-looking statements, and as such we anticipate that subsequent occasions and developments will trigger our views to alter. However, whereas we could elect to replace these forward-looking statements in some unspecified time in the future sooner or later, we particularly disclaim any obligation to take action. These forward-looking statements shouldn’t be relied upon as representing our views as of any date subsequent to the date of this press launch.
Investor Contact:
Joyce Allaire
LifeSci Advisors
[email protected]
(212) 915-2569
Company Contact:
Michael Celano
Chief Financial Officer
[email protected]
(484) 414-2715
