Fractyl Health (Nasdaq: GUTS) today announced the pricing of its initial public offering of 7,333,333 shares of common stock at a public offering price of $15.00 per share, for total gross proceeds of approximately $110.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Fractyl Health. All of the common stock is being offered by Fractyl Health. The offering is expected to close on February 6, 2024, subject to customary closing conditions. In addition, Fractyl Health has granted the underwriters a 30-day option to purchase up to an additional 1,099,999 shares of its common stock at the initial public offering price less the underwriting discounts and commissions.
Fractyl Health’s common stock is expected to begin trading on the Nasdaq Global Market on February 2, 2024, under the ticker symbol “GUTS.”
BofA Securities, Morgan Stanley and Evercore ISI are acting as joint book-running managers.
A registration statement relating to the securities being sold in the offering has been declared effective by the U.S. Securities and Exchange Commission on February 1, 2024. This offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained, when available, by contacting: BofA Securities, Inc., Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255 or by email at dg.prospectus_requests@bofa.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or by email at prospectus@morganstanley.com; or Evercore Group L.L.C. 55 East 52nd Street, 35th Floor, New York, New York 10055, Attention: Equity Capital Markets.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 the registration or qualification under the securities laws of such state or jurisdiction.