CONSHOHOCKEN, Pa., Dec. 18, 2017 (GLOBE NEWSWIRE) — Madrigal Pharmaceuticals, Inc. (MDGL), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for cardiovascular, metabolic and liver diseases, today announced the pricing of an underwritten registered public offering of 1,506,025 shares of its common stock at a public offering price of $83.00 per share. The gross proceeds to Madrigal from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $125 million. In addition, Madrigal has granted the underwriters of the offering a 30-day option to purchase up to an additional 225,904 shares of common stock. All of the shares in the offering are to be sold by Madrigal.
Goldman Sachs & Co. LLC, is the lead book-running manager of the offering. Evercore ISI is also acting as a book-runner of the offering. JMP Securities, Roth Capital Partners and H.C. Wainwright & Co. are acting as co-managers for the offering. The offering is expected to close on or about December 21, 2017, subject to the satisfaction of customary closing conditions.
The shares are being offered by Madrigal pursuant to an effective shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (SEC) on August 6, 2015. A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC on December 18, 2017. The final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. When available, copies of the final prospectus supplement and the accompanying prospectus relating to these securities may also be obtained by contacting one of the following: Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526, facsimile: (212) 902-9316, email: email@example.com; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, or by telephone at (888) 474-0200, or by email at firstname.lastname@example.org; JMP Securities LLC, Prospectus Department, 600 Montgomery Street, 10th Floor, San Francisco, CA 94111, telephone: (415) 835-8985; Roth Capital Partners, LLC 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147; or H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, New York 10022, email: email@example.com, telephone: (646) 975-6995.