Mintz advised the underwriters in connection with a $603 million public offering by Praxis Precision Medicines of 3,527,072 shares of common stock (which includes 501,592 shares of common stock issued pursuant to the exercise in full by the underwriters of their option to purchase additional shares of common stock) at a public offering price of $157.00 per share, and, in lieu of common stock to certain investors, pre-funded warrants to purchase up to 318,470 shares of common stock at the public offering price per share less the $0.0001 per share exercise price of each pre-funded warrant. The aggregate gross proceeds to Praxis Precision Medicines from this offering were approximately $603 million before deducting underwriting discounts and commissions and other offering expenses.
TD Cowen, Piper Sandler, Guggenheim Securities and Truist Securities acted as joint book-running managers for the offering. Oppenheimer & Co. and H.C. Wainwright & Co. acted as lead managers for the offering.
The Mintz capital markets team included John Rudy, Nishant Dharia, Sam Silver, Gianna Nappi, Gretchen Goyette, Jocelyn Sun, and Michelle St Francis. Joanne Hawana provided regulatory advice and Edmund Koundakjian, Ph.D. provided intellectual property advice. Ari Feder provided tax advice. Members of the Mintz team are based in the Boston, New York, Washington, DC and San Diego offices.