Silence Therapeutics (SLN) Prices 5.95M Share Offering at $9.50/sh

Silence Therapeutics plc (Nasdaq: SLN) today announced the pricing of an underwritten offering of 5,950,000 American Depositary Shares (“ADSs”), each representing three ordinary shares, at a price of $9.50 per ADS, for aggregate gross proceeds of approximately $56.5 million, before deducting underwriting discounts and commissions and other offering expenses. All of the ADSs are being offered by Silence. The offering is expected to close on or about August 16, 2022, subject to customary closing conditions. Silence intends to use the net proceeds of the offering, together with its existing cash and cash equivalents to fund the advancement of its clinical trials, including its Phase 2 trial of SLN360 in ASCVD and its Phase 1/2 trial of SLN124 in polycythemia vera (PV), as well as expansion of pipeline programs, working capital and general corporate purposes.

Morgan Stanley and William Blair are acting as joint book-running managers for the offering.

The ADSs are being offered by Silence pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission (the “SEC”) on October 15, 2021 and declared effective on October 22, 2021 (File No. 333-260265). The offering was made only by means of prospectus that forms a part of the registration statement. A final prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. A copy of the final prospectus supplement can be obtained, when available, from Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, by telephone at (866) 718-1649 or by email at [email protected]; or from William Blair, Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, by telephone at (800) 621-0687, or by email at [email protected].

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

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