Sage Therapeutics’ $575 Million Public Offering of Common Stock


Goodwin advised Sage Therapeutics on the transaction

Sage Therapeutics (NASDAQ:SAGE) executed the pricing of an underwritten public offering of 3,506,098 shares of its common stock at a public offering price of $164.00 per share. The gross proceeds to Sage Therapeutics from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $575.0 million. The offering is expected to close on or about February 13, 2018, subject to the satisfaction of customary closing conditions. In addition, Sage has granted the underwriters a 30-day option to purchase up to an additional 525,914 shares of its common stock.

J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Morgan Stanley are acting as joint book-running managers for the offering. Cowen, RBC Capital Markets, and BMO Capital Markets are serving as lead managers. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Sage Therapeutics is a clinical-stage biopharmaceutical company committed to developing novel medicines to transform the lives of patients with life-altering central nervous system (CNS) disorders. The company, led by Jeffrey M Jonas, Kimi Iguchi and Stephen J Kanes, is based in Cambridge (MA).

The Goodwin team was led by partners Mitchell Bloom (Picture) and Laurie Burlingame and included partners Janet Andolina, Martin Carmichael, Catherine McCarty and Ettore Santucci; counsel Stephanie Philbin; and associates Jesse Nevarez, Gabriela Morales-Rivera, Humza Bokhari and Olivia Uitto. patients with life-altering central nervous system (CNS) disorders. The company, led by Jeffrey M Jonas, Kimi Iguchi and Stephen J Kanes, is based in Cambridge (US).

Involved fees earner: Mitchell Bloom – Goodwin Procter; Laurie Burlingame – Goodwin Procter; Martin Carmichael – Goodwin Procter; Jesse Nevarez – Goodwin Procter; Gabriela Morales-Rivera – Goodwin Procter; Humza Bokhari – Goodwin Procter; Catherine McCarty – Goodwin Procter; Stephanie Philbin – Goodwin Procter; Janet Andolina – Goodwin Procter; Olivia Uitto – Goodwin Procter; Ettore Santucci – Goodwin Procter;

Law Firms: Goodwin Procter;

Clients: Sage Therapeutics;

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Author: Ambrogio Visconti