MoonLake
Immunotherapeutics Announces
Pricing of
$400
Million Upsized Public
Offering of Class A Ordinary Shares
ZUG, Switzerland, June 28, 2023 – MoonLake Immunotherapeutics
(Nasdaq:MLTX) (“MoonLake”), a clinical-stage biotechnology company
focused on creating next-level therapies for inflammatory diseases,
today announced the pricing on June 27, 2023 of its upsized
underwritten public offering of 8,000,000 Class A ordinary shares
at a public offering price per share of $50.00. The gross proceeds
from the offering to MoonLake, before deducting the underwriting
discounts and commissions and other offering expenses payable by
MoonLake, are expected to be $400 million. In addition, MoonLake
has granted the underwriters of the offering an option for a period
of 30 days to purchase up to an additional 1,200,000 Class A
ordinary shares at the public offering price, less the underwriting
discounts and commissions. The offering is expected to close on or
about June 30, 2023, subject to the satisfaction of customary
closing conditions. All of the securities to be sold in the
offering are being offered by MoonLake.
MoonLake intends to use the net proceeds from this offering
together with its existing cash, cash equivalents and marketable
securities, to fund the ongoing advancement of Sonelokimab and for
general corporate purposes.
SVB Securities, Guggenheim Securities, Cantor and LifeSci
Capital are acting as joint bookrunning managers for the offering.
BTIG and H.C. Wainwright & Co. are also acting as lead managers
for the offering.
A shelf registration statement relating to these securities has
been filed with the Securities and Exchange Commission (“SEC”) and
became effective on May 9, 2023. The offering is being made only by
means of a prospectus, including a prospectus supplement, forming a
part of an effective registration statement. A preliminary
prospectus supplement and accompanying prospectus relating to the
offering have been filed with the SEC and are available on the
SEC’s website, located at www.sec.gov. Electronic copies of the
final prospectus supplement and the accompanying prospectus related
to the offering will be filed with the SEC and will be available on
the SEC’s website at www.sec.gov and may also be obtained, when
available, by contacting SVB Securities LLC, Attention: Syndicate
Department, 53 State Street, 40th Floor, Boston, MA 02109, or by
telephone at (800) 808-7525, ext. 6105, or by email at
syndicate@svbsecurities.com; Guggenheim Securities, LLC, Attention:
Equity Syndicate Department, 330 Madison Avenue, New York, NY
10017, or by telephone at 212 518-9544, or by email at
GSEquityProspectusDelivery@guggenheimpartners.com; Cantor
Fitzgerald & Co., 499 Park Avenue, 4th Floor, New York, New
York 10022, Attn: Capital Markets Department, or by email at
prospectus@cantor.com; or LifeSci Capital LLC, Attention: Syndicate
Prospectus Department, 250 West 55th Street, 34th Floor, New York,
NY 10019, by email at compliance@lifescicapital.com or by telephone
at (646) 876-5059.
This press release shall not constitute an offer to sell or the
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 MoonLake Immunotherapeutics
MoonLake Immunotherapeutics is a clinical-stage
biopharmaceutical company unlocking the potential of Sonelokimab, a
novel investigational Nanobody® for the treatment of inflammatory
disease, to revolutionize outcomes for patients. Sonelokimab
inhibits IL-17A and IL-17F by inhibiting the IL-17A/A, IL-17A/F,
and IL-17F/F dimers that drive inflammation. The company’s focus is
on inflammatory diseases with a major unmet need, including
hidradenitis suppurativa and psoriatic arthritis – conditions
affecting millions of people worldwide with a large need for
improved treatment options. MoonLake was founded in 2021 and is
headquartered in Zug, Switzerland.
Forward-Looking Statements
This press release contains certain “forward-looking statements”
within the meaning of the U.S. Private Securities Litigation Reform
Act of 1995. Forward-looking statements include, but are not
limited to, statements regarding MoonLake’s expectations regarding
the consummation of the offering, the anticipated use of the net
proceeds of the offering and the satisfaction of customary closing
conditions with respect to the offering. In addition, any
statements that refer to projections, forecasts, or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward- looking statements. The words
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intend,” “may,” “might,” “plan,” “possible,” “potential,”
“predict,” “project,” “should,” “would” and similar expressions may
identify forward-looking statements, but the absence of these words
does not mean that statement is not forward looking.
Forward-looking statements are based on current expectations and
assumptions that, while considered reasonable by MoonLake and its
management, as the case may be, are inherently uncertain. New risks
and uncertainties may emerge from time to time, and it is not
possible to predict all risks and uncertainties. Actual results
could differ materially from those anticipated in such
forward-looking statements as a result of various risks and
uncertainties, which include, without limitation, the risk that the
offering will not be consummated; the impact of general economic,
health, industrial or political conditions in the United States or
internationally; and other risks and uncertainties identified in
MoonLake’s Annual Report on Form 10-K for the year ended December
31, 2022 and other subsequent disclosure documents filed with the
SEC.
Nothing in this press release should be regarded as a
representation by any person that the forward-looking statements
set forth herein will be achieved or that any of the contemplated
results of such forward-looking statements will be achieved. You
should not place undue reliance on forward-looking statements in
this press release, which speak only as of the date they are made
and are qualified in their entirety by reference to the cautionary
statements herein. MoonLake does not undertake or accept any duty
to release publicly any updates or revisions to any forward-looking
statements to reflect any change in its expectations or in the
events, conditions or circumstances on which any such statement is
based.
MoonLake Immunotherapeutics InvestorsMatthias
Bodenstedt, CFOir@moonlaketx.com
MoonLake Immunotherapeutics MediaPatricia
Sousa, Director Corporate Affairsmedia@moonlaketx.com
Consilium Strategic
CommunicationsTel: +44 (0) 20 3709
5700MoonLake@consilium-comms.comMary-Jane Elliott, Ashley Tapp
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