LEIDEN, Netherlands, Sept. 18, 2014 -- ProQR Therapeutics today announced the pricing of its initial public offering of 7,500,000 ordinary shares at an initial public offering price of $13.00 per ordinary share. In addition, ProQR has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 ordinary shares from ProQR at the public offering price, less underwriting discounts and commissions. After deducting the underwriting discounts and commissions and other estimated offering expenses payable by ProQR, the net proceeds of the initial public offering are expected to be approximately $88.4 million. The offering is expected to close on or about September 23, 2014, subject to customary closing conditions. ProQR's ordinary shares have been approved for listing on the NASDAQ Global Market and are expected to begin trading under the symbol "PRQR" on September 18, 2014.
Leerink Partners and Deutsche Bank Securities are acting as joint book-running managers for the offering. JMP Securities is acting as lead manager, and H.C. Wainwright & Co., LLC is acting as co-manager for the offering.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on September 17, 2014. The offering will be made only by means of a prospectus, copies of which may be obtained from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by email at [email protected], or by phone at 800-808-7525 ext. 6142; or from Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, or by email at [email protected], or by phone at (800) 503-4611.
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.
We are an innovative biopharmaceutical company engaged in the discovery and development of RNA-based therapeutics for the treatment of severe genetic disorders, with an initial focus on Cystic Fibrosis. Utilizing our unique, proprietary RNA repair technologies, we believe we will be able to treat genetic disorders in which a single protein is defective due to certain types of genetic mutation. We believe that this is a unique approach that offers advantages compared with small molecule, gene therapy and other therapeutic strategies.