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Praxis Precision Medicines, Inc. (NASDAQ:PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system (CNS) disorders characterized by neuronal excitation-inhibition imbalance, today announced a proposed public offering of its common stock and, in lieu of common stock to certain investors, prefunded warrants to purchase shares of common stock. All securities in the offering will be offered by Praxis. In addition, Praxis intends to grant the underwriters a 30-day option to purchase additional shares of common stock in an amount up to 15% of the shares of common stock (or prefunded warrants in lieu thereof) sold in the offering at the public offering price, less the underwriting discount and commission.
TD Cowen, Piper Sandler, Guggenheim Securities and Truist Securities are acting as joint book-running managers for the offering. The offering is subject to market and other customary closing conditions, and there can be no assurance as to whether or when the offering may be completed.
Posted In: PRAX
