Rhythm Pharmaceuticals, Inc. Announces Proposed Public Offering of Common Stock
Rhythm Pharmaceuticals (NASDAQ: RYTM), a global biopharmaceutical company focused on rare neuroendocrine diseases, has announced a proposed public offering of $150 million of its common stock. The company will also grant underwriters a 30-day option to purchase up to an additional $22.5 million of shares.
The offering will be managed by joint book-runners Morgan Stanley, BofA Securities, Stifel, and Wells Fargo Securities, with Canaccord Genuity and Citizens Capital Markets acting as lead managers. The offering will be made through a shelf registration statement on Form S-3 that became effective on March 2, 2023.
Rhythm Pharmaceuticals (NASDAQ: RYTM), un'azienda biofarmaceutica globale specializzata in malattie neuroendocrine rare, ha annunciato una offerta pubblica proposta di 150 milioni di dollari delle sue azioni ordinarie. La societ脿 conceder脿 inoltre agli underwriter un'opzione di 30 giorni per acquistare fino a un ulteriore 22,5 milioni di dollari di azioni.
L'offerta sar脿 gestita congiuntamente da Morgan Stanley, BofA Securities, Stifel e Wells Fargo Securities come book-runner, mentre Canaccord Genuity e Citizens Capital Markets agiranno come lead manager. L'offerta sar脿 effettuata tramite una dichiarazione di registrazione shelf sul modulo S-3, diventata efficace il 2 marzo 2023.
Rhythm Pharmaceuticals (NASDAQ: RYTM), una empresa biofarmac茅utica global enfocada en enfermedades neuroendocrinas raras, ha anunciado una oferta p煤blica propuesta de 150 millones de d贸lares de sus acciones comunes. La compa帽铆a tambi茅n otorgar谩 a los suscriptores una opci贸n de 30 d铆as para comprar hasta 22,5 millones de d贸lares adicionales en acciones.
La oferta ser谩 gestionada por los coordinadores conjuntos Morgan Stanley, BofA Securities, Stifel y Wells Fargo Securities, con Canaccord Genuity y Citizens Capital Markets como gestores principales. La oferta se realizar谩 a trav茅s de un registro en shelf mediante el formulario S-3, que entr贸 en vigor el 2 de marzo de 2023.
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Rhythm Pharmaceuticals (NASDAQ : RYTM), une entreprise biopharmaceutique mondiale sp茅cialis茅e dans les maladies neuroendocriniennes rares, a annonc茅 une offre publique propos茅e de 150 millions de dollars de ses actions ordinaires. La soci茅t茅 accordera 茅galement aux souscripteurs une option de 30 jours pour acheter jusqu'脿 22,5 millions de dollars d'actions suppl茅mentaires.
L'offre sera g茅r茅e par les chefs de file conjoints Morgan Stanley, BofA Securities, Stifel et Wells Fargo Securities, avec Canaccord Genuity et Citizens Capital Markets agissant en tant que gestionnaires principaux. L'offre sera r茅alis茅e via une d茅claration d'enregistrement sur 茅tag猫re (shelf registration) sur le formulaire S-3, devenue effective le 2 mars 2023.
Rhythm Pharmaceuticals (NASDAQ: RYTM), ein globales biopharmazeutisches Unternehmen, das sich auf seltene neuroendokrine Erkrankungen spezialisiert hat, hat ein geplantes 枚ffentliches Angebot von 150 Millionen US-Dollar seiner Stammaktien angek眉ndigt. Das Unternehmen gew盲hrt den Underwritern zudem eine 30-t盲gige Option zum Kauf von bis zu zus盲tzlichen 22,5 Millionen US-Dollar an Aktien.
Das Angebot wird von den gemeinsamen Bookrunnern Morgan Stanley, BofA Securities, Stifel und Wells Fargo Securities verwaltet, wobei Canaccord Genuity und Citizens Capital Markets als Lead Manager fungieren. Das Angebot erfolgt 眉ber eine Shelf-Registrierungserkl盲rung auf Formular S-3, die am 2. M盲rz 2023 wirksam wurde.
- Potential to raise up to $172.5 million in total capital if overallotment option is exercised
- Multiple top-tier investment banks involved as underwriters indicating strong institutional support
- Potential dilution for existing shareholders
- Stock offering may put downward pressure on share price
Insights
Rhythm Pharmaceuticals' $150M stock offering will dilute existing shares but provides capital for rare disease drug commercialization.
Rhythm Pharmaceuticals has announced a $150 million common stock offering with an additional $22.5 million option for underwriters. This capital raise represents a significant financing event for the rare disease-focused biopharmaceutical company.
The structure of this deal involves several top-tier investment banks as joint book-running managers, including Morgan Stanley, BofA Securities, Stifel, and Wells Fargo Securities, suggesting strong institutional support. The company is utilizing an existing shelf registration statement that became effective in March 2023, enabling a streamlined offering process.
For existing shareholders, this offering will likely result in dilution of their ownership percentage. The company has not specified the number of shares to be issued, as pricing details are typically finalized closer to the completion date. The timing of this capital raise suggests Rhythm requires additional funding to support commercialization efforts for its rare neuroendocrine disease portfolio.
The offering's success will depend on market conditions and investor appetite for biotech stocks in the current environment. The inclusion of a 30-day option for underwriters to purchase additional shares (commonly known as a greenshoe option) is standard practice that provides flexibility to address potential oversubscription.
This financing move indicates Rhythm is prioritizing a stronger cash position to advance its commercial initiatives, though investors should consider how effectively management will deploy this capital toward value-creating activities.
BOSTON, July 09, 2025 (GLOBE NEWSWIRE) -- Rhythm Pharmaceuticals, Inc. (Nasdaq: RYTM) (鈥淩hythm鈥�), a global, commercial-stage biopharmaceutical company dedicated to transforming the lives of patients living with rare neuroendocrine diseases, today announced a proposed public offering of
Morgan Stanley, BofA Securities, Stifel and Wells Fargo Securities are acting as joint book-running managers for the proposed offering. Canaccord Genuity and Citizens Capital Markets are acting as lead managers for the offering. The offering is subject to market and other customary closing conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The proposed offering is being made pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was filed by Rhythm with the Securities and Exchange Commission (鈥淪EC鈥�) and automatically became effective upon filing on March 2, 2023. The proposed offering will be made only by means of a prospectus supplement and the accompanying base prospectus. A preliminary prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC鈥檚 website at www.sec.gov. A copy of the preliminary prospectus supplement relating to the offering, when available, may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014, or by email at [email protected]; BofA Securities, Inc., Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, or by email at [email protected]; Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, or by email at [email protected]; or Wells Fargo Securities, LLC, Attention: WFS Customer Service, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, or by phone at 800-645-3751, (option #5), or by email at [email protected]鈥�. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the completion, timing and size of our proposed public offering and our expectations with respect to granting the underwriters a 30-day option to purchase additional shares. Statements using words such as 鈥渆xpect鈥�, 鈥渁nticipate鈥�, 鈥渂elieve鈥�, 鈥渕ay鈥�, 鈥渨ill鈥� and similar terms are also forward-looking statements. Such statements are subject to numerous risks and uncertainties, including, but not limited to, risks associated with general economic and market conditions and the other important factors discussed under the caption 鈥淩isk Factors鈥� in the prospectus supplement related to the offering, our Annual Report on Form 10-K for the year ended December 31, 2024, our filings on Forms 10-Q and 8-K and our other filings subsequently filed with the SEC. Except as required by law, we undertake no obligations to make any revisions to the forward-looking statements contained in this press release or to update them to reflect events or circumstances occurring after the date of this press release, whether as a result of new information, future developments or otherwise.
Contacts:
David Connolly
Head of Investor Relations and Corporate Communications
Rhythm Pharmaceuticals, Inc.
857-264-4280
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Layne Litsinger
AG真人官方 Chemistry
(410) 916-1035
[email protected]
FAQ
How much is Rhythm Pharmaceuticals (RYTM) planning to raise in its public offering?
Who are the underwriters for RYTM's stock offering?
When did Rhythm Pharmaceuticals' shelf registration statement become effective?
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What is the purpose of Rhythm Pharmaceuticals' business?
