Aeglea BioTherapeutics Announces Pricing of $120 Million Public Offering

AUSTIN, Texas, April 28, 2020 (GLOBE NEWSWIRE) -- Aeglea BioTherapeutics, Inc. (Nasdaq:AGLE), a clinical-stage biotechnology company developing next-generation human enzyme therapeutics as disruptive solutions for rare and other high-burden diseases, today announced the pricing of an underwritten public offering of 11,652,830 shares of its common stock at a price to the public of $4.75 per share. In addition, and in lieu of common stock, Aeglea is offering to certain investors pre-funded warrants to purchase up to an aggregate of 13,610,328 shares of common stock at a purchase price of $4.7499 per pre-funded warrant, which represents the per share public offering price for the common stock less the $0.0001 per share exercise price for each such pre-funded warrant. The aggregate gross proceeds from this offering are expected to be approximately $120 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Aeglea. The offering is expected to close on or about April 30, 2020, subject to customary closing conditions. Aeglea has also granted the underwriters a 30-day option to purchase up to an additional 3,789,473 shares of common stock in connection with the public offering. All of the securities are being offered by Aeglea.

J.P. Morgan Securities LLC, Evercore Group L.L.C. and Piper Sandler & Co. are acting as joint book-running managers in the offering. JonesTrading Institutional Services LLC and Needham & Company, LLC are acting as co-managers.

Aeglea intends to use the net proceeds from the offering, together with its existing cash resources, to advance the clinical development of pegzilarginase through its Phase 3 PEACE trial and BLA submission, advance its Phase 1/2 clinical trial and prepare for a potential Phase 3 trial of ACN00177 for Homocystinuria, and the remainder to fund continued research and development, manufacturing, commercialization infrastructure and for working capital and general corporate purposes.

The securities described above are being offered by Aeglea pursuant to a registration statement on Form S-3 previously filed and declared effective by the Securities and Exchange Commission (SEC). The offering is being made only by means of the written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying base prospectus, and when available, the final prospectus supplement and accompanying base prospectus may also be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at [phone] or by email at [e-mail]; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, by telephone at [phone], or by e-mail at: [e-mail]; or Piper Sandler & Co., 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, Attention: Prospectus Department, by telephone at [phone] or by email at [e-mail].