The Life Sciences team advised Moderna on its $604 million initial public offering. The upsized offering, which is widely recognized as the largest ever biotechnology IPO, consisted of 26,275,993 shares of common stock at a public offering price of $23.00 per share, before underwriting discounts and commissions. In addition, Moderna granted the underwriters a 30-day option to purchase up to an additional 3,941,398 shares of Moderna’s common stock at the initial public offering price, less underwriting discounts and commissions.
Moderna is pioneering the discovery and development of messenger RNA (mRNA) therapeutics and vaccines to direct the body’s cells to produce intracellular or secreted proteins that can have a therapeutic or preventive benefit for both patients and healthy individuals.
The Goodwin team was led by partners Stuart Cable, Kingsley Taft and Gregg Katz, and included partners Deborah Birnbach, Brian Fairchild, Dan Karelitz, Jim Matarese, Carl Metzger, Edwin O’Connor, Sarah Solomon and Scott Webster, counsel Stephanie Philbin, and associates Patricia Mets, Grace Wirth, Erini Svokos, Amoli Pandya, Sarah Smith, Megan Gustafson, Steven Tjoe, Humza Bokhari, Nick Reist and Fabiola Valenzuela.For additional details on the offering, please read the press release.