Mirati Therapeutics, Inc. (Nasdaq: MRTX), a commercial stage biotechnology company, has announced the pricing of an underwritten public offering of 9,669,631 shares of its common stock at a price to the public of US$27.80 per share, and, to certain investors, pre-funded warrants to purchase 1,121,736 shares of common stock at a price of US$27.799 per pre-funded warrant, which represents the per share public offering price for the common stock less the US$0.001 per share exercise price for each such pre-funded warrant. The aggregate gross proceeds to Mirati from this offering are expected to be approximately US$300.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Mirati. The offering is expected to close on or about August 11, 2023, subject to customary closing conditions. Mirati has also granted the underwriters a 30-day option to purchase up to an additional 1,618,705 shares of common stock in connection with the public offering.
Latham & Watkins LLP represents the underwriter in the offering, with a capital markets team led by San Diego partners Matt Bush and Cheston Larson, and counsel Anthony Gostanian, with associates Peter Simon and Sterling Swift.
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