The Life Sciences and Capital Markets teams advised Seaport Therapeutics, Inc. ("Seaport") on the pricing of its upsized initial public offering of 14,160,000 shares of its common stock at a price to the public of $18.00 per share, at the top of the target range. The gross proceeds to Seaport from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be $254.9 million. All of the shares are being offered by Seaport. In addition, Seaport has granted the underwriters a 30-day option to buy an additional 2,124,000 shares of its common stock at the initial public offering price, less underwriting discounts and commissions.
Seaport Therapeutics is a clinical-stage therapeutics company focused on inventing and developing new medicines for patients with depression, anxiety, and other debilitating neuropsychiatric disorders. Through its differentiated approach, the company identifies clinically validated mechanisms with established efficacy and safety which had historically been limited by high first-pass metabolism, low bioavailability, and/or side effects. Seaport applies its proprietary GlyphTM platform to overcome those limitations and invent innovative oral therapies. With an experienced team of industry leaders, Seaport has a proven track record in neuropsychiatry drug discovery and development and delivering successful business outcomes. Seaport aims to develop novel, leading treatment options that will make a significant impact for patients and their families.
The Goodwin team was led by Ben Marsh, Mitch Bloom, Kristen McCarthy, Kelly Deas, Grace Kim, Nathan Needle, Elizabeth Mulkey, Krupa Zachariah, Duncan Greenhalgh, Miho Kaneko, Sarah Bock, Zoe Li, Jennifer Fay, Brian Mukherjee, Erini Svokos, Katerina Stavrianidis, Matthew Wetzel, Dustin Schaefer and Jim Barrett.
For more information on the deal, please read the press release.