Praxis Precision Medicines Files 8-K

TL;DR

PRAXIS files 8-K, check for updates.

AI Summary

On March 27, 2024, Praxis Precision Medicines, Inc. filed an 8-K report. The filing primarily concerns other events and financial statements/exhibits. No specific material events or financial figures were detailed in the provided excerpt.

Why It Matters

This filing indicates a regulatory update from Praxis Precision Medicines, Inc. to the SEC, which could contain important information for investors.

Risk Assessment

Risk Level: low — The provided text is a standard SEC filing notification and does not contain information that inherently increases risk.

Key Players & Entities

• Praxis Precision Medicines, Inc. (company) — Registrant
• 0001104659-24-041158 (other) — Accession Number
• March 27, 2024 (date) — Date of earliest event reported
• Boston, Massachusetts (location) — Principal executive offices

FAQ

Key Financial Figures

• $0.0001 — e on which registered Common Stock, $0.0001 par value per share PRAX The Nasdaq
• $56.50 — ng price of the Shares to the public is $56.50 per share, and the offering price of th
• $56.4999 — he Pre-funded Warrants to the public is $56.4999 per underlying share, which equals the
• $0 — tock being sold in this Offering, minus $0.0001, the Pre-funded Warrants' exercise
• $215.6 m — fering are expected to be approximately $215.6 million, after deducting underwriting dis

Filing Documents

• tm247764d6_8k.htm (8-K) — 39KB
• tm247764d6_ex1-1.htm (EX-1.1) — 245KB
• tm247764d6_ex4-1.htm (EX-4.1) — 74KB
• tm247764d6_ex5-1.htm (EX-5.1) — 22KB
• tm247764d6_ex5-1img001.jpg (GRAPHIC) — 4KB
• tm247764d6_ex5-1img002.jpg (GRAPHIC) — 3KB
• 0001104659-24-041158.txt ( ) — 650KB
• prax-20240327.xsd (EX-101.SCH) — 3KB
• prax-20240327_lab.xml (EX-101.LAB) — 33KB
• prax-20240327_pre.xml (EX-101.PRE) — 22KB
• tm247764d6_8k_htm.xml (XML) — 4KB

01 Other Events

Item 8.01 Other Events. On March 27, 2024, Praxis Precision Medicines, Inc. (the "Company") entered into an underwriting agreement (the "Underwriting Agreement") with Piper Sandler & Co., Guggenheim Securities, LLC and Truist Securities, Inc., as representatives of the several underwriters named in Schedule A thereto (collectively, the "Underwriters"), relating to an underwritten offering of 3,318,585 shares (the "Shares") of the Company's common stock, $0.0001 par value per share (the "Common Stock"), and, in lieu of Common Stock to certain investors, pre-funded warrants (the "Pre-funded Warrants") to purchase up to 221,238 shares of Common Stock (the "Offering"). The closing of the Offering is expected to take place on April 2, 2024, Company. The offering price of the Shares to the public is $56.50 per share, and the offering price of the Pre-funded Warrants to the public is $56.4999 per underlying share, which equals the price per share of Common Stock being sold in this Offering, minus $0.0001, the Pre-funded Warrants' exercise price per share. The Company also granted the underwriters an option to purchase up to 530,973 additional shares of Common Stock within 30 days from the date of the Underwriting Agreement .On March 28, 2024, the underwriters exercised the option to purchase such additional shares in full. The net proceeds from the Offering are expected to be approximately $215.6 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company, and giving effect to the exercise of the underwriters' option to purchase additional shares. The Company does not intend to list the Pre-funded Warrants on The Nasdaq Global Select Market ("Nasdaq") or any other nationally recognized securities exchange or trading system. The exercise price and the number of shares of Common Stock is

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including statements regarding the closing of the Offering, the Company's intent not to list the Pre-funded Warrants on Nasdaq or any other nationally recognized securities exchange or trading system, anticipated amount of net proceeds from the Offering, the intended use of such proceeds, and the sufficiency of the net proceeds from the Offering and existing cash and cash equivalents to fund operating expenses and capital expenditure requirements. The forward-looking statements included in this Current Report on Form 8-K are subject to a number of risks, uncertainties and assumptions, including, without limitation, risks and uncertainties associated with market conditions, the satisfaction of customary closing conditions related to the offering and other risks as described in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and other filings with the Securities and Exchange Commission. These statements are based only on facts currently known by the Company and speak only as of the date of this Current Report on Form 8-K. As a result, you are cautioned not to rely on these forward-looking statements and the Company undertakes no obligation to publicly update or revise any forward-looking

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 1.1

Underwriting

Underwriting Agreement, dated March 27, 2024, by and among Praxis Precision Medicines, Inc. and Piper Sandler & Co., Guggenheim Securities, LLC and Truist Securities, Inc., as representatives of the several underwriters named therein. 4.1 Form of Pre-funded Warrant. 5.1 Opinion of Latham & Watkins LLP. 23.1 Consent of Latham & Watkins LLP (included in Exhibit 5.1). 104 Cover Page Interactive Data File (embedded within the inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PRAXIS PRECISION MEDICINES, INC. Date: March 29, 2024 By: /s/ Marcio Souza Marcio Souza Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR