NGM Bio Announces Proposed Offering of Common Stock

SOUTH SAN FRANCISCO, Calif., Jan. 04, 2021 (GLOBE NEWSWIRE) -- NGM Biopharmaceuticals, Inc. (NGM) (Nasdaq: NGM), a biotechnology company focused on discovering and developing transformative therapeutics for patients, today announced that it has commenced an underwritten public offering of $100,000,000 of shares of its common stock. In connection with the proposed offering, NGM expects to grant the underwriters a 30-day option to purchase up to an additional $15,000,000 of shares of its common stock at the public offering price, less underwriting discounts and commissions. All of the shares in the proposed offering will be sold by NGM. The proposed offering is subject to market and other conditions, and there can be no assurances as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering.

Goldman Sachs & Co. LLC, Citigroup Global Markets Inc. and Cowen and Company, LLC are acting as joint book-running managers for the proposed offering.

The shares described above are being offered by NGM pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was previously filed by NGM with the Securities and Exchange Commission (the “SEC”) and was declared effective on June 16, 2020. A preliminary prospectus supplement and accompanying prospectus relating to the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the proposed offering, when available, may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 866-471-2526, by facsimile at [phone], or by email at [e-mail]; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at [phone]; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attn: Prospectus Department, by telephone at [phone], or by email at [e-mail]. The final terms of the proposed offering will be disclosed in a final prospectus supplement to be filed with the SEC.