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Prelude Therapeutics Prices IPO Of 8.325 Mln Shares At $19/Shr, The High End Of Expected Range

Prelude Therapeutics Inc (PRLD) announced that it has priced initial public offering of 8.325 million shares at $19 per share, the high end of expected range of between $17.00 and $19.00 per share. All of the shares of common stock are being offered by Prelude Therapeutics.

In addition, Prelude Therapeutics has granted underwriters a 30-day option to purchase up to an additional 1.25 million shares at the initial public offering price, less the underwriting discounts and commissions.

Prelude Therapeutics shares are expected to begin trading on the Nasdaq Global Select Market on September 25, 2020 under the ticker symbol "PRLD."

The company expects offering to close on September 29, 2020. The company expects gross proceeds, before deducting underwriting commissions and offering expenses, to be about $158.2 million.

Morgan Stanley, Goldman Sachs & Co. LLC and BofA Securities are acting as joint book-running managers for the offering.

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