Metagenomi Announces Closing of Initial Public Offering

EMERYVILLE, Calif., Feb. 13, 2024 (GLOBE NEWSWIRE) -- Metagenomi, Inc. (Nasdaq: MGX), a precision genetic medicines company committed to developing curative therapeutics for patients using its proprietary, comprehensive metagenomics-derived gene editing toolbox, today announced the closing of its previously announced initial public offering of 6,250,000 of its common stock at a price to the public of $15.00 per share. The aggregate gross proceeds to Metagenomi from the offering were approximately $93.75 million, before deducting underwriting discounts and commissions and offering expenses. In addition, Metagenomi has granted the underwriters a 30-day option to purchase up to an additional 937,500 of its common stock at the initial public offering price less underwriting discounts and commissions.

The shares began trading on the Nasdaq Global Select Market on February 9, 2024 under the ticker symbol “MGX”.

J.P. Morgan, Jefferies, TD Cowen, Wells Fargo Securities and BMO Capital Markets acted as book-running managers for the offering. Chardan acted as lead manager for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on February 8, 2024. The offering was made only by means of a prospectus. A copy of the final prospectus, when available, may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: [phone], or by emailing at [e-mail]; Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at [phone] or by email at [e-mail]; Cowen and Company, LLC, 599 Lexington Avenue, New York, NY 10022, by telephone at [phone], or by e-mail at [e-mail]; Wells Fargo Securities, LLC, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to [e-mail]; BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, tel: [phone], or by email at: [e-mail].