Prime Medicine Announces Closing of Expanded Initial Public Offering

Prime Medicine Announces Closing of Expanded Initial Public Offering

CAMBRIDGE, Mass., Oct. 24, 2022 (GLOBE NEWSWIRE) — Prime Medicine, Inc. (Nasdaq: PRME), a biotechnology company committed to providing a new class of uniquely differentiated curative gene therapies, today announced the closing of its expanded initial public offering of 10,294,118 common shares at a public price of $17.00 per share. Gross proceeds from the offering were approximately $175.0 million, before underwriting discounts and commissions and other offering expenses. In addition, Prime Medicine has granted underwriters a 30-day option to purchase up to 1,544,117 additional shares of common stock at the initial public offering price less underwriting discounts and commissions. The shares began trading on the Nasdaq Global Market on October 20, 2022 under the symbol “PRME”. All shares in the offering were offered by Prime Medicine.

JP Morgan, Goldman Sachs & Co. LLC, Morgan Stanley and Jefferies are acting as joint bookrunners for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 19, 2022. The offering has been made by way of prospectus only. Copies of the final offering prospectus may be obtained from: JP Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (866) 803-9204 or by e- mail to; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by phone: (866) 471-2526, or by email:; Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2n/a Floor, New York, New York 10014, by phone at (866) 718-1649 or by email at; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by phone at (877) 821-7388 or by email at

This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, and there will be no 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 such state or jurisdiction.

About Prime Medicine

Prime Medicine is a biotechnology company committed to delivering a new class of unique and differentiated curative gene therapies to treat the broadest range of diseases. The company deploys Prime Editing technology, a versatile, precise, efficient and broad gene editing technology designed to perform only the right modification at the right position in a gene. With the theoretical potential to repair approximately 90% of known pathogenic genetic mutations in many organs and cell types, Prime Editing-based drugs, if approved, could offer a unique curative genetic therapeutic option to a wide range of patients. .

Caution Regarding Forward-Looking Statements

This press release includes certain information containing “forward-looking statements”, including, without limitation, statements regarding Prime Medicine’s expectations regarding the potential exercise of the underwriters’ 30-day option to purchase additional shares. and the therapeutic potential of Prime Editing. Forward-looking statements are based on Prime Medicine’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, the risks and uncertainties associated with the satisfaction of customary closing conditions and the consummation of the offering, as well as the risks inherent in the development of biopharmaceuticals and to clinical trials. These and other risks and uncertainties are described in more detail in the section titled “Risk Factors” in the registration statement filed with the Securities and Exchange Commission. The forward-looking statements contained in this announcement are made as of this date, and Prime Medicine assumes no obligation to update such information except as required by applicable law. Readers should not rely on any information on this page to be current or accurate after its publication date.

Media Contact:
Dan Budwick

Contact Investor:
Hannah Deresiewicz
Serious investor relations

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