Benzinga | Jul 17, 2020 05:46AM EDT

Cytokinetics Prices 7.3M Share Public Offering of Common Stock @$24/Share

Cytokinetics, Incorporated (NASDAQ:CYTK) today announced the pricing of an underwritten public offering of 7,291,667 shares of its common stock at a price to the public of $24.00 per share, before underwriting discounts and commissions. The gross proceeds to Cytokinetics from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Cytokinetics, are expected to be approximately $175.0 million. The offering is expected to close on July 21, 2020, subject to customary closing conditions. Additionally, Cytokinetics has granted the underwriters a 30-day option to purchase up to an additional 1,093,750 shares of its common stock at the public offering price, less underwriting discounts and commissions. All of the shares of common stock in the offering will be sold by Cytokinetics.

Goldman Sachs & Co. LLC, Piper Sandler & Co. and Cantor Fitzgerald & Co. are acting as joint book-running managers for the offering. Barclays Capital Inc. is acting as an additional book-running manager for the offering. JMP Securities LLC is acting as lead co-manager, and Raymond James & Associates, Inc. and H.C. Wainwright & Co., LLC are acting as co-managers.