Entrada Therapeutics Announces Closing of Initial Public Offering
BOSTON, Nov. 02, 2021 (GLOBE NEWSWIRE) -- Entrada Therapeutics, Inc. (Nasdaq: TRDA), a biotechnology company aiming to transform the lives of patients by establishing Endosomal Escape Vehicle (EEV™) therapeutics as a new class of medicines and aiming to become the world’s foremost intracellular therapeutics company, today announced the closing of its initial public offering of 9,075,000 shares of common stock, at a price to the public of $20.00 per share. All shares were offered by Entrada. The gross proceeds to Entrada from the offering, before deducting underwriting discounts, commissions and other offering expenses, were approximately $181.5 million. The shares began trading on The Nasdaq Global Market under the ticker symbol “TRDA” on October 29, 2021. In addition, the underwriters have a 30-day option to purchase up to an additional 1,361,250 shares of common stock at the initial public offering price less underwriting discounts and commissions.
Goldman Sachs & Co. LLC, Cowen and Company, LLC and Evercore Group L.L.C. acted as joint book-running managers for the offering.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 28, 2021. The offering was made only by means of a written prospectus. Copies of the final prospectus relating to the initial public offering can be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing email@example.com; Cowen and Company, LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926; and Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, or by telephone at (888) 474-0200, or by email at firstname.lastname@example.org.
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.
About Entrada Therapeutics
Entrada Therapeutics is a biopharmaceutical company aiming to transform the lives of patients by establishing a new class of medicines, Endosomal Escape Vehicles (EEV™), to engage intracellular targets that have long been considered inaccessible and undruggable. The Company’s EEV therapeutics are designed to enable the efficient intracellular delivery of a wide range of therapeutics into a variety of organs and tissues with an improved therapeutic index. Through its proprietary, highly versatile and modular EEV Platform, Entrada is building a robust development portfolio of oligonucleotide-, antibody- and enzyme-based programs for the potential treatment of neuromuscular disease, immunology, oncology and diseases of the central nervous system. The Company’s lead oligonucleotide programs include ENTR-601-44 targeting Duchenne muscular dystrophy (DMD), and a follow-on program targeting myotonic dystrophy type 1 (DM1).
VP, Corporate Communications