CRISPR Therapeutics Announces Pricing of Public Offering of Common Shares

ZUG, Switzerland and CAMBRIDGE, Mass., Jan. 04, 2018 -- CRISPR Therapeutics (Nasdaq:CRSP), a biopharmaceutical company focused on developing transformative gene-based medicines for serious diseases, today announced the pricing of an underwritten public offering of 5,000,000 of its common shares at a public offering price of $22.75 per share, before underwriting discounts. In addition, CRISPR Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 750,000 of its common shares. CRISPR Therapeutics anticipates the gross proceeds from the offering, before deducting the underwriter discounts and commissions and other offering expenses, to be approximately $113.75 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about January 9, 2018, subject to customary closing conditions.

Goldman Sachs & Co. LLC, Piper Jaffray & Co. and Barclays Capital Inc. are acting as joint book-running managers for the offering. Guggenheim Securities, LLC is acting as co-manager for the offering.

A registration statement on Form S-3 (File No. 333-221491) relating to these securities has been previously filed with and declared effective by the Securities and Exchange Commission (SEC). This press release shall not constitute an offer to sell or a 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.

A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC on January 3, 2018. 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. A copy of the final prospectus supplement may be obtained, when available, from Goldman Sachs & Co. LLC by mail at 200 West Street, New York, NY 10282, Attention: Prospectus Department, by telephone at (866) 471-2526, or by email at [email protected]; from Piper Jaffray & Co., Attn: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924, or by email at [email protected]; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (888) 603-5847 or by email at [email protected]. 

About CRISPR Therapeutics

CRISPR Therapeutics is a leading gene-editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 gene-editing platform. CRISPR Therapeutics AG is headquartered in Zug, Switzerland, with its wholly-owned U.S. subsidiary, CRISPR Therapeutics, Inc., and R&D operations based in Cambridge, Massachusetts.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding CRISPR Therapeutics’ anticipated public offering. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, uncertainties related to market conditions and the satisfaction of customary closing conditions related to the offering. These and other risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in CRISPR Therapeutics’ Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the SEC on March 10, 2017, the prospectus supplement related to the public offering and other filings that CRISPR Therapeutics may make with the SEC in the future. Any forward-looking statements contained in this press release represent CRISPR Therapeutics’ views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. CRISPR Therapeutics explicitly disclaims any obligation to update any forward-looking statements.

CRISPR Therapeutics Contacts  

Investors:
Chris Erdman
617-307-7227
[email protected]

or

Chris Brinzey
Westwicke Partners for CRISPR Therapeutics
339-970-2843
[email protected]

Media:

Jennifer Paganelli
W2O Group for CRISPR Therapeutics
347-658-8290
[email protected]