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Cytokinetics Announces Closing of Public Offering of Common Stock

Tuesday, May 28, 2024 2 min read
Key Takeaway: Cytokinetics has successfully closed its underwritten public offering of 9,803,922 common shares at a price of $51.00 each, raising around $500 million in gross proceeds. The offering was managed by J.P. Morgan, Goldman Sachs & Co. LLC, and Morgan Stanley. This offering was made under the shelf registration statement filed with the SEC, which is now automatically effective. Relevant documents and prospectus have been filed and are accessible on the SEC's website.

Market Sentiment Analysis

POSITIVE FACTORS

  • Cytokinetics raised approximately $500 million from the offering.
  • The public offering was successfully closed with substantial participation from major banks.
  • The offering follows an effective shelf registration, streamlining the process for investors.

Full Press Release Details

SOUTH SAN FRANCISCO, Calif., May 28, 2024 (GLOBE NEWSWIRE) -- Cytokinetics, Incorporated (Nasdaq: CYTK) today announced the closing of its previously announced underwritten public offering of 9,803,922 shares of its common stock at a price to the public of $51.00 per share. The gross proceeds to Cytokinetics from the offering, before offering expenses payable by Cytokinetics, were approximately $500 million.
J.P. Morgan, Goldman Sachs & Co. LLC and Morgan Stanley acted as joint book-running managers for the offering.
The securities described above were offered by Cytokinetics pursuant to a shelf registration statement (including a base prospectus) filed on November 18, 2022 with the Securities and Exchange Commission (SEC), which has become automatically effective. A final prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and can be accessed for free on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at (866) 471-2526, or by email at Prospectus-ny@ny.email.gs.com; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by telephone at 866-718-1649 or by email at prospectus@morganstanley.com.
This press release shall not constitute an offer to sell or the 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.
Senior Vice President, Corporate Affairs

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Frequently Asked Questions

What is the share price of Cytokinetics' recent offering?

The recent offering price of Cytokinetics' shares is $51.00.

How much did Cytokinetics raise from the stock offering?

Cytokinetics raised approximately $500 million from the offering.

Which firms managed the Cytokinetics stock offering?

J.P. Morgan, Goldman Sachs & Co. LLC, and Morgan Stanley managed the offering.

When was the shelf registration statement filed?

The shelf registration statement was filed on November 18, 2022.

Where can the final prospectus supplement be accessed?

The final prospectus supplement can be accessed on the SEC’s website.

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Last updated: May 28, 2024