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RegMedInvestors (RMi) Financing Note: Solid Biosciences (SLDB) priced 35.739 M share offering with warrants

February 18, 2025 5:30pm

35.739 M shares were priced at $4.30 with 13.88 M warrants priced at $4.029

Tuesday SLDB jumped +$1.27 to $5.30

The financing includes new and existing investors, including Adage Capital Partners LP, Bain Capital Life Sciences, Invus, Perceptive Advisors, RA Capital Management, TCGX, Venrock Healthcare Capital Partners, Vestal Point Capital, a U.S.-based life-sciences focused institutional investor, a major mutual fund and a large investment management firm.

The aggregate gross proceeds of the offering are expected to be approximately $200 M, before deducting underwriting discounts and commissions and other offering expenses.

Jefferies, Leerink Partners and William Blair are acting as joint book-running managers for the offering. H.C. Wainwright & Co. is acting as lead manager for the offering.

The Bottom Line: Priced right and executed flawlessly – WHY – a Leerink Partners “deal”

Also helping, Solid Biosciences (SLDB) announced positive initial data from the Phase 1 /2 INSPIRE DUCHENNE trial evaluating SGT-003, a next-generation gene therapy product candidate intended for the treatment of Duchenne muscular dystrophy (Duchenne). Interim 90-day biopsy data reported in the 1st 3 participants showed an average microdystrophin expression of 110%, as measured by western blot, and improvements in multiple biomarkers that are indicators of muscle health and resilience.

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