LogicBio Therapeutics Announces Pricing of Public Offering of Common Stock

LEXINGTON, Mass., Oct. 01, 2020 (GLOBE NEWSWIRE) -- LogicBio Therapeutics, Inc. (Nasdaq:LOGC) (LogicBio), a company dedicated to extending the reach of genetic medicine with pioneering targeted delivery platforms, today announced the pricing of its previously announced underwritten public offering of 7,000,000 shares of common stock at a price to the public of $6.00 per share. Gross proceeds to LogicBio from the offering are expected to be $42.0 million, before deducting underwriting discounts and commissions and offering expenses payable by LogicBio. In addition, LogicBio has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock, at the public offering price less underwriting discounts and commissions. All shares are being sold by LogicBio. The offering is expected to close on October 5, 2020, subject to the satisfaction of customary closing conditions.

Jefferies, Barclays and William Blair are acting as joint book-running managers, and Chardan is acting as lead manager for the offering.

LogicBio intends to use the net proceeds from the offering to support clinical development of LB-001, to progress the development of its GeneRide and Next Generation Capsid platforms, to expand its pipeline of product candidates into other indications that may be targeted by its platforms and the balance to fund working capital, capital expenditures and other general corporate purposes.

The shares of common stock described above are being offered by LogicBio pursuant to an effective shelf registration statement on Form S-3 (File No. 333-234735), which was declared effective by the Securities and Exchange Commission (SEC) on November 25, 2019. A preliminary prospectus supplement related to the offering was filed with the SEC on September 30, 2020. The final prospectus supplement related to the offering will be filed with the SEC. When available, you may obtain copies of the final prospectus supplement and the accompanying prospectus from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, NY 10022, by telephone: (877) 821-7388, or by email: Prospectus_Department@Jefferies.com, Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847, or email: Barclaysprospectus@broadridge.com, or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, or by email at prospectus@williamblair.com or by telephone at 1-800-621-0687. Electronic copies of the final prospectus supplement and the accompanying prospectus will also be available on the website of the SEC at www.sec.gov.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the offering, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About LogicBio Therapeutics
LogicBio Therapeutics is dedicated to extending the reach of genetic medicine with pioneering targeted delivery platforms. LogicBio’s proprietary genome editing technology platform, GeneRide, enables the site-specific integration of a therapeutic transgene without nucleases or exogenous promoters by harnessing the native process of homologous recombination. LogicBio is also developing a Next Generation Capsid platform for use in gene editing and gene therapies. LogicBio is developing these highly potent vectors for internal development candidates and potentially for business development collaborations. LogicBio is headquartered in Lexington, Mass.

Forward-Looking Statements
Certain statements contained in this press release, including those relating to the expected proceeds from the offering, the use of proceeds from the offering and the expected closing of the offering, are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties associated with the consummation of the proposed offering and general economic conditions, including as a result of the ongoing COVID-19 pandemic, and other risks identified from time to time in the reports we file with the SEC, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, and the preliminary prospectus supplement and accompanying prospectus related to the offering on file with the SEC, which are available at www.sec.gov. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of the statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.


Matthias Jaffe
Chief Financial Officer
(617) 245-0399


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