Foghorn Therapeutics (FHTX) Prices 7.5M Share IPO at $16/Sh

Foghorn Therapeutics Inc. (NASDAQ: FHTX) today announced the pricing of its initial public offering of 7,500,000 shares of its common stock at a public offering price of $16.00 per share. All of the shares are being offered by Foghorn. In addition, Foghorn has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions. Foghorn’s common stock is expected to begin trading on The Nasdaq Global Market on October 23, 2020 under the symbol “FHTX.”

The gross proceeds of the offering, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Foghorn, are expected to be approximately $120 million excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on October 27, 2020, subject to the satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC, Morgan Stanley and Cowen are acting as joint book-running managers for the offering, and Wedbush PacGrow is acting as co-manager.

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