Vor Bio prices underwritten offering of common stock, private placement

Vor Bio announced the pricing of an underwritten offering and a private placement, with combined gross proceeds of approximately $115.8M. In the underwritten offering, Vor Bio has agreed to sell 15,302,267 shares of its common stock at an offering price of $4.30 per share. Before deducting the underwriting discounts and commissions and offering expenses, the company expects to receive total gross proceeds of approximately $65.8 million. All of the shares are to be sold by the company. The offering is expected to close on or about December 9, 2022, subject to satisfaction of customary closing conditions. Evercore Group L.L.C., Stifel, Nicolaus & Company and Oppenheimer & Co. Inc. are acting as joint bookrunning managers for the offering. Baird, JMP Securities, a Citizens Company, and Wedbush Securities Inc. are acting as co-lead managers for the offering.In addition to the shares being sold in the underwritten offering, Vor Bio has agreed to sell 11,627,907 shares of its common stock in a concurrent private placement at a price of $4.30 per share to one or more affiliates of RA Capital Management, L.P., Vor Bio’s largest stockholder, for aggregate gross proceeds of approximately $50.0 million, before deducting the placement agent fees and offering expenses. All of the shares are to be sold by the company. The sale of these shares of common stock will not be registered under the Securities Act of 1933, as amended. The concurrent private placement is also scheduled to close on December 9, 2022, subject to the satisfaction of customary closing conditions. Evercore Group L.L.C. and Stifel, Nicolaus & Company are acting as placement agents in connection with the concurrent private placement. The closing of the underwritten public offering is not conditioned on the closing of the concurrent private placement. Vor Bio currently intends to use the net proceeds from the underwritten offering and concurrent private placement primarily to fund the continued clinical development of pipeline products and for working capital and general corporate purposes.