Benzinga | Jul 2, 2021 05:41AM EDT

Cerevel Therapeutics Priced 14M Share Public Offering of Common Stock @$25/Share

Cerevel Therapeutics (NASDAQ:CERE) announced today the pricing of its previously announced underwritten public offering of 14,000,000 shares of common stock at a public offering price of $25.00 per share. The gross proceeds to Cerevel of the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $350 million. The offering is expected to close on July 7, 2021, subject to customary closing conditions. In addition, Cerevel has granted the underwriters a 30-day option to purchase an additional 2,100,000 shares of its common stock, at the public offering price, less underwriting discounts and commissions.

J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, Jefferies LLC, and Stifel, Nicolaus & Company, Incorporated are acting as joint book-running managers for the offering. Loop Capital Markets LLC and Siebert Williams Shank & Co., LLC are acting as co-managers.