Scholar Rock Announces Pricing of Initial Public Offering

Scholar Rock (NASDAQ:SRRK), a biopharmaceutical company focused on the discovery and development of innovative medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role, today announced the pricing of its initial public offering of 5,360,000 shares of its common stock at a public offering price of $14.00 per share.

As quoted in the press release:

All of the shares are being offered by Scholar Rock.  In addition, Scholar Rock has granted the underwriters a 30-day option to purchase up to 804,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions.

The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses payable by Scholar Rock, are expected to be approximately $75.0 million, excluding any proceeds from the exercise of the underwriters’ option to purchase additional shares.  Scholar Rock’s common stock is expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “SRRK” on May 24, 2018.  The offering is expected to close on May 29, 2018 subject to customary closing conditions.

Click here to read the full press release.