Disc Medicine commences underwritten offering of $220M of shares

Disc Medicine (IRON) announced the commencement of an underwritten offering of $220M of shares of its common stock and, in lieu of common stock to certain investors that so choose, pre-funded warrants to purchase shares of its common stock, of which $200M of shares are to be offered by Disc and $20M of shares are to be offered by AI DMI. In addition, the Selling Stockholder intends to grant the underwriters a 30-day option to purchase up to an additional $33M of shares at the public offering price, less underwriting discounts and commissions. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Disc intends to use the net proceeds from the proposed offering to support the potential commercialization of bitopertin for erythropoietic protoporphyria and X-linked protoporphyria, to fund research and clinical development of its current or additional product candidates, and for working capital and other general corporate purposes. Disc will not receive any proceeds from the sale of shares to be offered by the Selling Stockholder. Jefferies, Leerink Partners, Morgan Stanley and Cantor are acting as joint book-running managers for the proposed offering.