Zentalis Pharmaceuticals Announces Pricing of Underwritten Offering of Common Stock

NEW YORK and SAN DIEGO, June 15, 2023 (GLOBE NEWSWIRE) -- Zentalis Pharmaceuticals, Inc. (Nasdaq: ZNTL), a clinical-stage biopharmaceutical company discovering and developing clinically differentiated small molecule therapeutics targeting fundamental biological pathways of cancers, today announced the pricing of an underwritten offering of 11,032,656 shares of its common stock at an offering price of $22.66 per share, for total gross proceeds of approximately $250.0 million, before deducting underwriting discounts and commissions and offering expenses payable by the Company. All of the common stock is being offered by the Company. The offering is expected to close on June 20, 2023, subject to customary closing conditions.

The Company intends to use the net proceeds from the offering to fund ongoing and planned clinical trials, and for working capital and other general corporate purposes. Based on these planned uses of proceeds, the Company believes that the net proceeds from the offering and its existing cash, cash equivalents and marketable securities will be sufficient to fund its operating expenses and capital expenditure requirements into 2026.

Morgan Stanley, Jefferies, SVB Securities and Guggenheim Securities are acting as joint book-running managers for the offering. H.C. Wainwright is acting as financial advisor to the Company for the offering.

The securities described above are being offered pursuant to an effective shelf registration statement that was filed with the U.S. Securities and Exchange Commission (SEC) on May 4, 2021. This offering is being made only by means of a prospectus supplement and the accompanying prospectus which forms a part of the effective shelf registration statement.

A final prospectus supplement related to the offering (including the accompanying prospectus) will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement related to the offering and the accompanying prospectus may be obtained, when available, by visiting the SEC’s website or by contacting: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014, or by email at [e-mail]; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, via telephone: [phone] or via email: [e-mail]; SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40^th Floor, Boston, MA 02109, by telephone at [phone], ext. 6105, or by emailing [e-mail]; or Guggenheim Securities, LLC Attention: Equity Syndicate Department, 330 Madison Avenue, 8^th Floor, New York, NY 10017 or by telephone at [phone], or by email at [e-mail].