Prime Medicine's $125.4 Million Public Offering Led by Paul Hastings
Deal News | Jul 31, 2025 | Paul Hastings
Prime Medicine, a life sciences company listed on Nasdaq under the ticker PRME, is embarking on a significant public offering of 38 million shares of common stock, priced at $3.30 per share. The transaction is expected to generate approximately $125.4 million in gross proceeds before underwriting discounts, commissions, and other expenses. The company has also provided underwriters a 30-day option to purchase an additional 5.7 million shares. Paul Hastings LLP served as legal advisor to TD Cowen and BMO Capital Markets, the underwriters for this offering. The legal team was led by Seo Salimi, chair of Equity Capital Markets and Corporate Life Sciences, with partner Will Magioncalda and associate Chris Guerin. The offering is poised to close around August 1, 2025, pending customary closing conditions. Paul Hastings is well-regarded for its expertise and high-standard legal practices, offering extensive services to top-tier investment banks, asset managers, and corporations globally.
Sectors
- Life Sciences
- Legal Services
- Financial Services
Geography
- United States – Prime Medicine is a U.S.-based company and the stock offering involves parties operating in the U.S. financial markets.
Industry
- Life Sciences – Prime Medicine, as a life sciences company, is involved in this sector.
- Legal Services – Legal advisory services provided by Paul Hastings LLP for the stock offering.
- Financial Services – Financial services are provided by underwriters TD Cowen and BMO Capital Markets.
Financials
- 125.4 million – Expected gross proceeds from the public offering.
- 3.30 – Price per share in the public offering.
- 38,000,000 – Number of shares offered initially.
- 5,700,000 – Additional shares underwriters can purchase within 30 days.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Prime Medicine | Target Company | Company | A life sciences company conducting a public offering. |
| Paul Hastings LLP | Legal Advisor | Company | Provided legal services to the underwriters. |
| TD Cowen | Underwriter | Company | Acted as an underwriter for the public offering. |
| BMO Capital Markets | Underwriter | Company | Acted as an underwriter for the public offering. |
| Seo Salimi | Equity Capital Markets and Corporate Life Sciences Chair | Person | Led the Paul Hastings legal team for the offering. |
| Will Magioncalda | Partner | Person | Part of the Paul Hastings legal team for the offering. |
| Chris Guerin | Associate | Person | Part of the Paul Hastings legal team for the offering. |