The Life Sciences team advised SpringWorks Therapeutics on the closing of its initial public offering of 10,350,000 shares of common stock at a public offering price of $18.00 per share, which includes the exercise in full by the underwriters of their option to purchase up to 1,350,000 additional shares of common stock. The gross proceeds from the offering were $186.3 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by SpringWorks.
SpringWorks is a clinical-stage biopharmaceutical company applying a precision medicine approach to acquiring, developing and commercializing life-changing medicines for underserved patient populations suffering from devastating rare diseases and cancer. SpringWorks has a differentiated portfolio of small molecule targeted oncology product candidates and is advancing two potentially registrational clinical trials in rare tumor types, as well as several other programs addressing highly prevalent, genetically defined cancers. SpringWorks’ strategic approach and operational excellence in clinical development have enabled it to rapidly advance its two lead product candidates into late-stage clinical trials while simultaneously entering into multiple shared-value partnerships with industry leaders to expand its portfolio.
The Goodwin team was led by partners Kingsley Taft and Laurie Burlingame and included associates Jake Hays and Carolina Guerrero who handled all corporate aspects of the offering with assistance from partner Sarah Bock and associate Alexandra Denniston (ERISA), partner Daniel Karelitz (Tax), partner Bradford Smith (Labor & Employment), partner Julie Tibbets and associate Elizabeth Mulkey (FDA), and partner Roger Cohen.
For additional details on the offering, please read the press release.