On April 9, 2019 Syros Pharmaceuticals (NASDAQ: SYRS), a leader in the development of medicines that control the expression of genes, reported the closing of its previously announced concurrent underwritten public offerings of (i) 8,667,333 shares of its common stock and accompanying Class A warrants to purchase up to 1,951,844 shares of its common stock, at a combined price to the public of $7.50 per common share and accompanying Class A warrant and (ii) 666 shares of its Series A convertible preferred stock, which are convertible into 666,000 shares of its common stock, and accompanying Class A warrants to purchase up to 166,500 shares of its common stock, at a combined price to the public of $7,500 per Series A share and accompanying Class A warrant (Press release, Syros Pharmaceuticals, APR 9, 2019, View Source [SID1234535084]). Each Class A warrant has an exercise price of $8.625 per share and expires 3.5 years from the date of issuance. Gross proceeds from the offerings, before deducting underwriting discounts and commissions and offering expenses, were approximately $70 million.
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Cowen and Piper Jaffray & Co. acted as joint book-running managers for the offerings. JMP Securities acted as lead manager and Roth Capital Partners acted as co-manager.
The securities were offered by Syros pursuant to a shelf registration statement that was filed with the Securities and Exchange Commission ("SEC") on July 20, 2017 and declared effective by the SEC on July 31, 2017. Final prospectus supplements and accompanying prospectuses relating to, and describing the terms of, each offering were filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the prospectus supplements and the accompanying prospectuses relating to each offering can be obtained from Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by telephone at (631) 274-2806; or Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone: 800-747-3924, or by email: [email protected].
This press release does 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.