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NEW HAVEN, Conn., Sept. 26, 2018 (GLOBE NEWSWIRE) — Arvinas, Inc. (Nasdaq: ARVN), a biopharmaceutical company dedicated to improving the lives of patients suffering from debilitating and life-threatening diseases through the discovery, development and commercialization of therapies to degrade disease-causing proteins, today announced the pricing of its initial public offering of 7,500,000 shares of its common stock at a public offering price of $16.00 per share, for aggregate gross proceeds of approximately $120 million, before deducting underwriting discounts and commissions and estimated offering expenses. In addition, Arvinas has granted the underwriters an option for a period of 30 days to purchase up to 1,125,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions. All of the shares are being offered by Arvinas.
The common stock is expected to begin trading on the Nasdaq Global Select Market on September 27, 2018 under the symbol “ARVN.” The offering is expected to close on October 1, 2018, subject to customary closing conditions.
Goldman Sachs & Co. LLC, Citigroup and Piper Jaffray & Co., are acting as joint book-running managers for the offering.
A registration statement relating to the shares being sold in this offering was declared effective by the Securities and Exchange Commission on September 26, 2018. The offering is being made only by means of a prospectus forming part of the registration statement relating to these shares. Copies of the prospectus, when available, may be obtained by contacting: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 866-471-2526, facsimile: 212-902-9316 or by emailing Prospectusfirstname.lastname@example.org; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 800-831-9146; or Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at 800-747-3924 or by email at email@example.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.
Arvinas Inc. is a biopharmaceutical company dedicated to improving the lives of patients suffering from debilitating and life-threatening diseases through the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Arvinas uses its proprietary technology platform to engineer proteolysis targeting chimeras, or PROTAC™ protein degraders, that are designed to harness the body’s own natural protein disposal system to selectively and efficiently degrade and remove disease-causing proteins.
Contacts for Arvinas
Randy Teel, VP Corporate Development
Cory Tromblee, ScientPR
Source: Arvinas Inc.