Beam Therapeutics’ $180 Million Initial Public Offering

Davis Polk advised J.P. Morgan, Jefferies and Barclays, the joint book-running manager for the offering.

Beam Therapeutics Inc. (Nasdaq: BEAM) announced the pricing of its initial public offering of 10,588,236 shares of common stock at a public offering price of $17.00 per share. All of the shares are being offered by Beam Therapeutics. In addition, Beam Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 1,588,235 shares of common stock at the initial public offering price, less the underwriting discounts and commissions. Beam Therapeutics’ common stock is expected to begin trading on The Nasdaq Global Select Market on February 6, 2020 under the ticker symbol “BEAM.”

The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Beam Therapeutics, are expected to be approximately $180 million excluding any exercise of the underwriters’ option to purchase additional shares.

J.P. Morgan, Jefferies and Barclays are acting as joint book-running managers for the offering. Wedbush PacGrow is acting as lead manager for the offering.

Headquartered in Cambridge, Massachusetts, Beam Therapeutics is a biotechnology company developing precision genetic medicines through base editing.

The Davis Polk corporate team included partners Deanna L. Kirkpatrick (Picture) and Yasin Keshvargar and associates Yoojin Nairn-Kim, Daniel Chao and Edward Peck. Partner David R. Bauer and associate Hilary Smith provided intellectual property and technology advice. Partner Po Sit and associate Adam R. Brownstone provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice.

Involved fees earner: David Bauer – Davis Polk & Wardwell; Adam Brownstone – Davis Polk & Wardwell; Daniel Chao – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Yasin Keshvargar – Davis Polk & Wardwell; Deanna Kirkpatrick – Davis Polk & Wardwell; Yoojin Nairn-Kim – Davis Polk & Wardwell; Edward Peck – Davis Polk & Wardwell; Po Sit – Davis Polk & Wardwell; Hilary Smith – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Barclays Capital ; J.P. Morgan Securities LLC; Jefferies;

Author: Ambrogio Visconti