Press Release

Prelude Therapeutics Announces Pricing of Initial Public Offering

September 24, 2020 at 8:50 PM EDT

WILMINGTON, Del., Sept. 24, 2020 (GLOBE NEWSWIRE) -- Prelude Therapeutics Incorporated (Nasdaq: PRLD), a clinical-stage precision oncology company, today announced the pricing of its initial public offering of 8,325,000 shares of its common stock at a public offering price of $19.00 per share. The gross proceeds to Prelude, before deducting underwriting commissions and offering expenses, are expected to be approximately $158.2 million. All of the shares of common stock are being offered by Prelude Therapeutics. In addition, Prelude Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 1,248,750 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

The shares are expected to begin trading on the Nasdaq Global Select Market on September 25, 2020 under the ticker symbol “PRLD.” The offering is expected to close on September 29, 2020, subject to the satisfaction of customary closing conditions.

Morgan Stanley, Goldman Sachs & Co. LLC and BofA Securities are acting as joint book-running managers for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on September 24, 2020. The offering is being made only by means of a prospectus, copies of which may be obtained from Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, by telephone at (866) 718-1649 or by email at prospectus@morganstanley.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 1-866-471-2526 or by email at prospectus-ny@ny.email.gs.com; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001 Attn: Prospectus Department, or by email at dg.prospectus_requests@bofa.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Prelude Therapeutics

Prelude Therapeutics is a clinical-stage precision oncology company focused on discovering and developing small molecule therapies optimized to target the key driver mechanisms in cancers with high unmet need.

Contact

Investors: Melissa Forst
Media: Joshua Mansbach
Argot Partners
212.600.1902
prelude@argotpartners.com

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