Maze Therapeutics priced its IPO of 8.75 million shares at $16, aiming for $140 million in proceeds.
Quiver AI Summary
Maze Therapeutics, Inc. has priced its upsized initial public offering (IPO) of 8,750,000 shares of common stock at $16.00 per share, aiming to raise approximately $140 million in gross proceeds. The offering will close on February 3, 2025, pending standard closing conditions, and the shares are set to begin trading on the Nasdaq Global Market under the ticker "MAZE" on January 31, 2025. The company has also granted underwriters a 30-day option to purchase an additional 1,312,500 shares. Maze Therapeutics focuses on developing precision medicines for renal and cardiovascular diseases, utilizing insights from human genetics through its Compass platform. The offering will be conducted exclusively via a prospectus, with several financial institutions serving as joint bookrunning managers.
Potential Positives
- Maze Therapeutics successfully priced its upsized initial public offering at $16.00 per share, raising expected gross proceeds of $140.0 million, which can significantly enhance its financial position.
- The offering will allow Maze Therapeutics to increase its visibility and liquidity in the public market, as shares are set to begin trading on the Nasdaq Global Market under the symbol "MAZE."
- The company is advancing its innovative pipeline, particularly two lead programs aimed at chronic kidney disease, showcasing its commitment to developing precision medicines based on human genetics.
- The involvement of reputable underwriters such as J.P. Morgan, TD Cowen, Leerink Partners, and Guggenheim Securities can bolster investor confidence and support the successful execution of the offering.
Potential Negatives
- The pricing of the initial public offering (IPO) at $16.00 per share may indicate market skepticism if the public offering price is perceived as low compared to potential valuations, leading to investor concerns about future stock performance.
- The press release does not provide substantial details about the company's financial health or past performance, which could raise concerns for potential investors about the company's stability and growth prospects.
- The need for an upsized IPO might suggest a lack of confidence in securing sufficient investor interest at initial offering terms, potentially signaling issues with demand for their shares.
FAQ
What is the price of Maze Therapeutics' initial public offering?
The public offering price of Maze Therapeutics' shares is $16.00 per share.
How many shares are being offered in Maze Therapeutics' IPO?
The offering includes 8,750,000 shares of common stock.
When is Maze Therapeutics expected to start trading on Nasdaq?
The shares are expected to begin trading on January 31, 2025.
Who are the underwriters for Maze Therapeutics' IPO?
J.P. Morgan, TD Cowen, Leerink Partners, and Guggenheim Securities are the joint bookrunning managers.
What diseases does Maze Therapeutics focus on?
Maze Therapeutics focuses on renal, cardiovascular, and related metabolic diseases.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
SOUTH SAN FRANCISCO, Calif., Jan. 30, 2025 (GLOBE NEWSWIRE) -- Maze Therapeutics, Inc. (Nasdaq: MAZE), a clinical-stage biopharmaceutical company harnessing the power of human genetics to develop novel, small molecule precision medicines for patients living with renal, cardiovascular and related metabolic diseases, today announced the pricing of its upsized initial public offering of 8,750,000 shares of its common stock at a public offering price of $16.00 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be $140.0 million. All shares of common stock to be sold in the offering will be sold by Maze Therapeutics. In addition, Maze Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 1,312,500 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on the Nasdaq Global Market on January 31, 2025, under the symbol “MAZE.” The offering is expected to close on February 3, 2025, subject to the satisfaction of customary closing conditions.
J.P. Morgan, TD Cowen, Leerink Partners and Guggenheim Securities are acting as the joint bookrunning managers for the offering. The offering is being made only by means of a prospectus.
Registration statements relating to these securities have been filed with the Securities and Exchange Commission and became effective on January 30, 2025. The offering is being made only by means of a prospectus. A copy of the final prospectus may be obtained, when available, from J.P. Morgan Securities LLC, Attention: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or email: prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (855) 495-9846, or by email at TD.ECM_Prospectus@tdsecurities.com; Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at 1-(800) 808-7525, ext. 6105, or by email at syndicate@leerink.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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.
About Maze Therapeutics
Maze Therapeutics is a clinical-stage biopharmaceutical company harnessing the power of human genetics to develop novel, small molecule precision medicines for patients living with common diseases, with a focus on renal, cardiovascular and related metabolic, including obesity. The company is advancing a pipeline using its Compass platform, which provides insights into the genetic variants in disease and links them with the biological pathways that drive disease in specific patient groups. The company’s pipeline is led by two wholly owned lead programs, MZE829 and MZE782, each of which represents a novel precision medicine-based approach for chronic kidney disease.
For further information, please contact:
Investors:
Jillian Connell, Maze Therapeutics
jconnell@mazetx.com
(650) 850-5080
Media:
Dan Budwick, 1AB
dan@1abmedia.com
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
