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GlycoMimetics Announces Pricing of Public Offering of Common Stock
GlycoMimetics, Inc. (NASDAQ: GLYC), a clinical stage biotechnology company focused on the discovery and development of novel glycomimetic drugs, today announced the pricing of its underwritten public offering of 7,000,000 shares of its common stock at a price to the public of $11.50 per share. The gross proceeds from the offering are expected to be $80.5 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by GlycoMimetics. The offering is expected to close on or about May 30, 2017, subject to customary closing conditions.
Jefferies LLC and Cowen are acting as joint book-running managers for the offering. SunTrust Robinson Humphrey, Inc. is acting as lead manager for the offering. GlycoMimetics has granted to the underwriters a 30-day option to purchase up to 1,050,000 additional shares of common stock at the public offering price, less the underwriting discount.
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