SpringWorks Therapeutics Announces Pricing of Public Offering of Common Stock

STAMFORD, Conn., Oct. 07, 2020 (GLOBE NEWSWIRE) -- SpringWorks Therapeutics, Inc. (Nasdaq: SWTX), a clinical-stage biopharmaceutical company focused on developing life-changing medicines for patients with severe rare diseases and cancer, announced today the pricing of an underwritten public offering of 4,901,960 shares of its common stock at a public offering price of $51.00 per share, before underwriting discounts and commissions. All of the shares in the offering are being sold by SpringWorks. In addition, SpringWorks has granted the underwriters a 30-day option to purchase up to an additional 735,294 shares of its common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $250 million, excluding any exercise of the underwriters' option to purchase additional shares. The offering is expected to close on or about October 13, 2020, subject to the satisfaction of customary closing conditions.

J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering. Wedbush Securities Inc. is acting as co-manager for the offering.

An automatic shelf registration statement on Form S-3ASR (including a prospectus) relating to these securities has been filed with the Securities and Exchange Commission (SEC) and has become effective. 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.

The offering is being made only by means of a prospectus and prospectus supplement that form part of the automatic shelf registration statement. A preliminary prospectus supplement describing the terms of the offering has been filed with the SEC and forms a part of the effective registration statement. A copy of the final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and may be obtained, when available, from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1115 Long Island Avenue, Edgewood, NY 11717, by telephone at [phone], or by email at [e-mail]; Goldman Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: [phone] or by emailing [e-mail] or Cowen and Company, LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY,11717, Attn: Prospectus Department, by telephone at [phone] or by emailing [e-mail].