Crispr’s $517 Million Follow-On Offering

Goodwin Procter LLP advised CRISPR Therapeutics AG on the deal.

CRISPR Therapeutics completed $517.5 million follow-on offering, including the full exercise of the underwriters’ option to purchase additional shares, of an aggregate of 7,392,857 common shares at a price to the public of $70.00 per share. Aggregate gross proceeds were approximately $517.5 million, before deducting underwriting discounts and commissions and estimated offering expenses.

On June 30, 2020, CRISPR Therapeutics AG, a leading gene editing company based in Zug, Switzerland, focusing on developing transformative gene-based medicines for serious diseases based on its proprietary CRISPR/Cas9 technology, and each of Goldman Sachs & Co. LLC, BofA Securities, Inc. and Jefferies LLC, as joint book-running managers, and each of Canaccord Genuity LLC, William Blair & Company, L.L.C., SunTrust Robinson Humphrey, Inc. and Roth Capital Partners, LLC, as co-managers, entered into an underwriting agreement relating to the public offering of 6,428,572 common shares at a price of $70.00 per share, before underwriting discounts.

CRISPR is a leading gene editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR is headquartered in Zug, Switzerland, with its wholly-owned U.S. subsidiary, CRISPR Therapeutics, Inc., and R&D operations based in Cambridge, Massachusetts, and business offices in San Francisco, California and London, United Kingdom.

The Goodwin team was led by Rob Puopolo (Picture), Seo Salimi, John Mei, Carly Ward, and Navid Wheeler, and included Stephanie Philbin, Dan Karelitz, Alex Plaum, Brian Fairchild, and Ettore Santucci.

Homburger AG acted as legal counsel to Goldman Sachs & Co. LLC, BofA Securities, Inc. and Jefferies LLC as the joint book-running managers and representatives of the several underwriters in the offering. The Homburger team comprised partner Frank Gerhard and associate Lorenzo Togni (both Corporate | M&A and Capital Markets).

Involved fees earner: Brian Fairchild – Goodwin Procter; Daniel Karelitz – Goodwin Procter; John Mei – Goodwin Procter; Stephanie Philbin – Goodwin Procter; Alexander Plaum – Goodwin Procter; Robert Puopolo – Goodwin Procter; Seo Salimi – Goodwin Procter; Ettore Santucci – Goodwin Procter; Carolyn Ward – Goodwin Procter; Navid Wheeler – Goodwin Procter; Frank Gerhard – Homburger; Lorenzo Togni – Homburger;

Law Firms: Goodwin Procter; Homburger;

Clients: Bank of America Securities; CRISPR Therapeutics AG; Goldman Sachs & Co.; Jefferies;

Author: Ambrogio Visconti