Full Press Release Details
PolyPid Ltd. Announces Closing of Initial
Public Offering and Full Exercise of Underwriters' Option to Purchase Additional Shares
Tikva, Israel - June 30, 2020 -
PolyPid Ltd. (Nasdaq: PYPD), a Phase 3 clinical-stage
pharmaceutical company focused on developing targeted, locally administered and prolonged-release
therapeutics using its proprietary PLEX technology, announced the closing of its initial public offering of 4,312,500 ordinary
shares, including the full exercise of the underwriters' option to purchase additional shares, at a price to the public of
$16.00 per share, for gross proceeds of $69.0 million. The shares are listed for trading on the Nasdaq Global Market under the
Barclays and BMO Capital
Markets acted as joint book-running managers. Raymond James acted as lead manager. National Securities Corporation, ODDO BHF and
A.G.P/Alliance Global Partners acted as co-managers.
A registration statement
relating to these securities was declared effective by the Securities and Exchange Commission on June 25, 2020. The offering was
made only by means of a prospectus, copies of which may be obtained from Barclays Capital Inc. c/o Broadridge Financial Solutions
by mail at 1155 Long Island Avenue, Edgewood, NY, 11717, by email at barclaysprospectus@broadridge.com, or by calling 888-603-5847
or BMO Capital Markets Corp., Attention: Equity Syndicate Department, 3 Times Square, New York, New York 10036, telephone: 1-800-414-3627
or by emailing bmoprospectus@bmo.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 such state or jurisdiction.