IPO - 89bio, Inc.

Form Type: 424B5

Filing Date: 2025-01-29

Corporate Action: Ipo

Type: New

Accession Number: 000119312525015668

Filing Summary: 89bio, Inc. is offering 21,671,428 shares of common stock at a public offering price of $8.75 per share, along with pre-funded warrants for 6,900,000 shares, priced at $8.749. The total proceeds before expenses are expected to be $234,993,095. The offering includes a 30-day option for underwriters to purchase an additional 4,285,714 shares. The primary aim of the capital raised is to fund clinical activities and the development of pegozafermin for liver and cardiovascular diseases. The document details the risks associated with investing in these securities, including market conditions, potential future capital requirements, and dilution effects. Immediate dilution is anticipated at an estimated $3.96 per share for participating investors due to public offering price surpassing the net tangible book value per share. No trading market is anticipated for the pre-funded warrants, limiting their liquidity. Additionally, the risks of raising future capital are exacerbated by market conditions affecting small biotechnology companies.

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Form Type: 8-K

Filing Date: 2025-01-29

Corporate Action: Ipo

Type: New

Accession Number: 000119312525015901

Filing Summary: On January 28, 2025, 89bio, Inc. entered into an underwriting agreement to issue and sell 21,671,428 shares of its common stock at a public offering price of $8.75 per share. Additionally, pre-funded warrants to purchase 6,900,000 shares of common stock were offered at a price of $8.749 per share. The net proceeds from the offering are expected to be approximately $234.6 million after deducting underwriting discounts and commissions. An option was granted to the underwriters to purchase an additional 4,285,714 shares within 30 days. The offering is expected to close on January 30, 2025. The transaction is covered under a shelf registration statement becoming effective on May 23, 2023. A final prospectus supplement dated January 28, 2025, related to the offering was filed with the SEC on January 29, 2025.

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Form Type: 424B5

Filing Date: 2025-01-27

Corporate Action: Ipo

Type: New

Accession Number: 000119312525013470

Filing Summary: On January 27, 2025, 89bio, Inc. filed a preliminary prospectus supplement related to an initial public offering (IPO) of up to $250,000,000 in common stock and pre-funded warrants. The securities offered include shares of common stock and pre-funded warrants, which are intended for investors that prefer not to purchase common stock directly. The pre-funded warrants will have a purchase price equal to the common stock public offering price minus $0.001, and holders will have rights as common stockholders only upon exercise of these warrants. The document outlines the financial risks associated with the investment, highlighting the company's clinical stage and emphasis on the drug pegozafermin for treating liver and metabolic diseases. It notes the absence of a public trading market for the pre-funded warrants and describes the underwriting options and compensation structure. The company may utilize proceeds for clinical activities and general corporate purposes. A 30-day option is granted to the underwriters for additional share purchases. The summary includes important disclaimers regarding the offering and investment risks, recommending careful consideration of risk factors provided in the prospectus.

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