The Life Sciences team advised Scholar Rock Holding Corporation on the completion of its underwritten offering of 12,408,760 shares of common stock to the public at $6.85 per share. Pursuant to the Underwriting Agreement, Scholar Rock also granted the Underwriters a 30-day option to purchase up to 1,861,314 additional shares in an amount equal to 15% of the securities offered in the public offering. On October 12, 2023, the underwriters exercised in full their option to purchase the 1,861,314 shares. Scholar Rock raised aggregate gross proceeds of approximately $92.5 million after deducting underwriting discounts and estimated offering expenses.
Based in Cambridge, Massachusetts, Scholar Rock is a Phase 3, clinical-stage biopharmaceutical company focused on the treatment of serious diseases in which protein growth factors play a fundamental role.
The Goodwin team was led by Sarah Ashfaq, Alicia Tschirhart, Jesse Fishman and Kingsley Taft, and included Patrick O’Brien, Thomas Underwood, Susan Lee, Daniel Karelitz, and Maggie Wong.
For additional details on the offering, which closed on Monday, October 16, 2023, please read the press release.