Exhibit 99.1
Solid Biosciences Announces Pricing of Public Offering of Common Stock
CAMBRIDGE, Massachusetts, March 18, 2021 – Solid Biosciences Inc., (Nasdaq: SLDB) a life sciences company focused on advancing meaningful therapies for Duchenne muscular dystrophy (Duchenne), today announced that it has priced an underwritten public offering of 21,739,131 shares of its common stock at a public offering price of $5.75 per share, for total gross proceeds of $125.0 million, before deducting underwriting discounts and commissions and offering expenses. In addition, Solid has granted the underwriters a 30-day option to purchase up to an additional 3,260,869 shares of its common stock on the same terms and conditions. All of the shares in the offering are being sold by Solid. The offering is expected to close on March 23, 2021, subject to customary closing conditions.
The Company expects to use net proceeds from this offering to fund research and development expenses, including the advancement of SGT-001, and for working capital and other general corporate purposes.
Jefferies, SVB Leerink and Piper Sandler are acting as joint book-running managers for the offering. Chardan is acting as lead manager for the offering.
The shares are being offered pursuant to an effective shelf registration statement that was filed with the Securities and Exchange Commission (“SEC”) on March 13, 2019, and declared effective by the SEC on March 19, 2019.
This offering is being made only by means of a prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. A final prospectus supplement relating to the offering will be filed with the SEC. When available, copies of the final prospectus supplement and the accompanying prospectus may also be obtained by contacting: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388, or by email at prospectus_department@Jefferies.com; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@svbleerink.com; or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924 or by email at prospectus@psc.com.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy these securities, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Solid Biosciences
Solid Biosciences is a life sciences company focused on advancing transformative treatments to improve the lives of patients living with Duchenne. Disease-focused and founded by a family directly impacted by Duchenne, our mandate is simple yet comprehensive – work to address the disease at its core by correcting the underlying mutation that causes Duchenne with our lead gene therapy candidate, SGT-001.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, such as those, among others, relating to the Company’s plans to consummate its proposed public offering. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all
