ProQR Prices $75 Million Underwritten Public Offering and Concurrent Private Placement

Core Viewpoint - ProQR Therapeutics has announced a public offering of 18 million ordinary shares at a price of $3.50 per share, aiming to raise approximately$63 million in gross proceeds to fund research and development initiatives [1][3]. Group 1: Offering Details - The public offering consists of 18,000,000 ordinary shares priced at $3.50 each, totaling gross proceeds of$63 million before expenses [1]. - ProQR has granted underwriters a 30-day option to purchase up to 2,700,000 additional shares at the public offering price [1]. - The offering is expected to close on October 24, 2024, subject to customary closing conditions [4]. Group 2: Concurrent Private Placement - ProQR has entered into a share purchase agreement with Eli Lilly to sell 3,523,538 ordinary shares, allowing Lilly to maintain its 16.4% ownership stake post-offering [2]. - The shares sold to Lilly will generate approximately $12.3 million in gross proceeds, with a purchase price cap of$15 million [2]. - The private placement shares will not be registered as part of the public offering and are exempt from registration under the Securities Act [3][6]. Group 3: Use of Proceeds - ProQR intends to use the net proceeds from both the public offering and the private placement primarily for research and development, clinical development, and expansion of its programs [3]. - Remaining funds will be allocated for working capital, capital expenditures, and other general corporate purposes [3]. Group 4: Company Overview - ProQR Therapeutics focuses on developing transformative RNA therapies using its proprietary Axiomer™ RNA editing technology [7]. - The company aims to create a new class of medicines targeting both rare and prevalent diseases with unmet medical needs [7].