PepGen’s $108 Million Initial Public Offering

Latham & Watkins represented the underwriters in the IPO while Goodwin advised PepGen.

PepGen, Inc., a clinical-stage biotechnology company advancing the next generation of oligonucleotide therapies with the goal of transforming the treatment of severe neuromuscular and neurological diseases, has announced the pricing of its initial public offering. The offering consists of 9,000,000 shares of common stock at an initial public offering price of US$12 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses payable by PepGen, are expected to be US$108 million. In addition, PepGen has granted the underwriters a 30-day option to purchase up to an additional 1,350,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. All of the shares of common stock are being offered by PepGen. The shares are expected to begin trading on the Nasdaq Global Select Market on May 6, 2022, under the symbol “PEPG.

BofA Securities, SVB Securities, and Stifel acted as joint book-running managers for the offering. Wedbush PacGrow acted as lead-manager for the offering.

Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by New York partners Nathan Ajiashvili and Alison Haggerty, with associates Milo LeDoux, Brian Yoon, and Alexandra Kustra.

The Goodwin team was led by Richard Hoffman, James Xu and Alicia Tschirhart, and included Monique Noel, Amanda Rae Schwarzenbart, Nirali Shah and Sebastian Miao (Corporate and Securities); Julie Tibbets and Lauren Farruggia (FDA); Crescent Moran Chasteen, James Devendorf and Jeremy Slotnick (Executive Compensation); Roger Cohen and Heath Ingram (Healthcare Regulatory).

Involved fees earner: Crescent Moran Chasteen – Goodwin Procter; Roger Cohen – Goodwin Procter; James Devendorf – Goodwin Procter; Lauren Farruggia – Goodwin Procter; Richard Hoffman – Goodwin Procter; Heath Ingram – Goodwin Procter; Sebastian Miao – Goodwin Procter; Monique Noel – Goodwin Procter; Amanda Schwarzenbart – Goodwin Procter; Nirali Shah – Goodwin Procter; Jeremy Slotnick – Goodwin Procter; Julie Tibbets – Goodwin Procter; Alicia Tschirhart – Goodwin Procter; James Xu – Goodwin Procter; Nathan Ajiashvili – Latham & Watkins; Alison Haggerty – Latham & Watkins; Alexandra Kustra – Latham & Watkins; Milo LeDoux – Latham & Watkins; Brian Suk Jin Yoon – Latham & Watkins;

Law Firms: Goodwin Procter; Latham & Watkins;

Clients: Bank of America Securities; PepGen, Inc.; Stifel Financial Corp.; SVB Securities; Wedbush PacGrow;