GAITHERSBURG, Md.--GlycoMimetics, Inc. (NASDAQ: GLYC) today announced the closing of its initial public offering of 8,050,000 shares of its common stock at an initial public offering price of $8.00 per share, which includes the exercise in full by the underwriters of their option to purchase up to 1,050,000 additional shares of common stock. All of the shares in the offering were offered by GlycoMimetics. The aggregate net proceeds to GlycoMimetics, after underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $57.4 million.
Jefferies LLC and Barclays Capital Inc. acted as joint book-running managers for the offering. Stifel acted as co-lead manager and Canaccord Genuity Inc. acted as co-manager.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on January 9, 2014.
The offering was made only by means of a prospectus. A copy of the final prospectus relating to these securities may be obtained from Jefferies LLC, Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, NY 10022, by email at[email protected] or by phone at 877-547-6340 or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at [email protected] or by phone at 888-603-5847.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About GlycoMimetics, Inc.
GlycoMimetics is a clinical stage biotechnology company focused on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in which carbohydrate biology plays a key role. Glycomimetics are molecules that mimic the structure of carbohydrates involved in important biological processes. Using its expertise in carbohydrate chemistry and knowledge of carbohydrate biology, GlycoMimetics is developing a pipeline of glycomimetic drug candidates that inhibit disease-related functions of carbohydrates, such as the roles they play in inflammation, cancer and infection.