Press Release July 06, 2021

Graphite Bio Completes Upsized $273.7 Million Initial Public Offering

The Life Sciences team advised Graphite Bio, Inc. (Nasdaq: GRPH) on its initial public offering of 14,000,000 shares of its common stock at a price to the public of $17.00 per share on June 29, 2021. In addition, the underwriters exercised in full their option to purchase 2,100,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions. The aggregate gross proceeds to Graphite Bio from the offering, including the option exercise, were $273.7 million, before deducting the underwriting discounts and commissions and other offering expenses payable by Graphite Bio.

Graphite Bio is a clinical-stage, next-generation gene editing company harnessing high efficiency targeted gene integration to develop a new class of therapies to potentially cure a wide range of serious and life-threatening diseases. The company is pioneering a precision gene editing approach to achieve one of medicine's most elusive goals: to precisely "find & replace" any gene in the genome. 

The Goodwin team was led by Mitchell S. Bloom, Maggie L. Wong, Shoaib Ghias, William ‘Wynn’ Stateman, Mingshu Liu, Jai Kalra, Tricia Hojo, and Ruowen Li (corporate); and included Alexander Varond, Elizabeth Mulkey, and Sarah Wicks (FDA and regulatory); Roger Cohen and Heath Roosevelt Ingram (healthcare); Grace Wirth, Leslie Nash, and Eric Graffeo (executive compensation); Janet Andolina, Andrew Q. Wilson, and Claire Oxford (tax); Brian H Mukherjee (insurance); and Ettore A. Santucci and Brad Weber (opinions); with invaluable assistance from James Matarese, Andrew Hess, and Shira Borzak.

For more details, read the press release and articles in Endpoints, Fierce Biotech, and MedCity News.