Prime Medicine $161 million stock and pre-funded warrants offering

Davis Polk advised the joint book-running managers and representatives of the several underwriters in connection with a public offering by Prime Medicine, Inc. of 22,560,001 shares of common stock at $6.25 per share (which included 3,360,000 shares of common stock from the full exercise of the underwriters’ option to purchase additional shares) and pre-funded warrants to purchase 3,200,005 shares of common stock at $6.24999 per pre-funded warrant, for total gross proceeds of approximately $161 million. The common stock is listed on the Nasdaq Global Market under the symbol “PRME.”

Based in Cambridge, Massachusetts, Prime Medicine is a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies to address the widest spectrum of diseases. Prime Medicine is deploying Prime Editing technology, which is a versatile, precise and efficient gene editing technology.

The Davis Polk corporate team included partner Richard D. Truesdell, Jr., counsel Jeffrey S. Ramsay and associates Tomer Magid and Shelby Young. Partner David R. Bauer and associate Brette L. Trost provided intellectual property advice. The tax team included counsel Yixuan Long and associates Justin Corvino and Alex Ang Gao. All members of the Davis Polk team are based in the New York office.