REG - PureTech Health PLC - PureTech's Seaport Prices Upsized IPO Nasdaq: SPTX

Puretech HealthAnnouncement

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RNS Number : 7401C  PureTech Health PLC  01 May 2026

1 May 2026

PureTech Health plc

 

PureTech Founded Entity Seaport Therapeutics Announces Pricing of Upsized
Initial Public Offering

 

PureTech Health plc  (https://www.puretechhealth.com/) (Nasdaq: PRTC, LSE:
PRTC) ("PureTech" or the "Company"), a hub-and-spoke biotherapeutics company
dedicated to giving life to science and transforming innovation into value,
today announced that its Founded Entity, Seaport Therapeutics, Inc.
("Seaport"), has announced the pricing of its upsized initial public offering
of 14,160,000 shares of its common stock at a price to the public of $18.00
per share, at the top of the target range. The gross proceeds to Seaport from
the offering, before deducting the underwriting discounts and commissions and
offering expenses, are expected to be $254.9 million. All of the shares are
being offered by Seaport. In addition, Seaport has granted the underwriters a
30-day option to buy an additional 2,124,000 shares of its common stock at the
initial public offering price, less underwriting discounts and commissions.

 

The shares are expected to begin trading on the Nasdaq Global Select Market on
May 1, 2026 under the ticker symbol "SPTX." The offering is expected to close
on May 4, 2026 subject to the satisfaction of customary closing conditions.

 

Upon the closing of the offering, PureTech will hold 16,685,013 shares of
Seaport common stock.

 

The full text of the announcement from Seaport is as follows:

 

Seaport Therapeutics Announces Pricing of Upsized Initial Public Offering

 

BOSTON, April 30, 2026 - Seaport Therapeutics, Inc. (https://seaporttx.com/) ,
(Nasdaq: SPTX) ("Seaport" or the "Company"), a clinical-stage therapeutics
company that is inventing and developing neuropsychiatric medicines, today
announced the pricing of its upsized initial public offering of 14,160,000
shares of its common stock at a price to the public of $18.00 per share, at
the top of the target range. The gross proceeds to Seaport Therapeutics from
the offering, before deducting the underwriting discounts and commissions and
offering expenses, are expected to be $254.9 million. All of the shares are
being offered by Seaport Therapeutics. In addition, Seaport Therapeutics has
granted the underwriters a 30-day option to buy an additional 2,124,000 shares
of its common stock at the initial public offering price, less underwriting
discounts and commissions.

 

The shares are expected to begin trading on the Nasdaq Global Select Market on
May 1, 2026 under the ticker symbol "SPTX." The offering is expected to close
on May 4, 2026 subject to the satisfaction of customary closing conditions.

 

Goldman Sachs & Co. LLC, J.P. Morgan, Leerink Partners, Citigroup, and
Stifel are acting as joint book-running managers for the offering.

 

A registration statement relating to this offering has been filed with the
Securities and Exchange Commission and was declared effective on April 30,
2026. The offering is being made only by means of a prospectus. Copies of the
final prospectus, when available, may be obtained from: Goldman Sachs &
Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY
10282, by telephone at 1-866-471-2526, or by emailing
prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone
at 866-803-9204, or by email at prospectus-eq_fi@jpmorganchase.com; Leerink
Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor,
Boston, MA 02109, by telephone at (800) 808-7525 ext. 6105, or by email at
syndicate@leerink.com; Citigroup Global Markets Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at
1-800-831-9146; or Stifel, Nicolaus & Company, Incorporated, Attention:
Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by
telephone at (415) 364-2720 or by emailing syndprospectus@stifel.com
(mailto:syndprospectus@stifel.com) .

 

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy these securities, 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 Seaport Therapeutics

Seaport Therapeutics is a clinical-stage therapeutics company focused on
inventing and developing new medicines for patients with depression, anxiety,
and other debilitating neuropsychiatric disorders. Through its differentiated
approach, the Company identifies clinically validated mechanisms with
established efficacy and safety which had historically been limited by high
first-pass metabolism, low bioavailability, and/or side effects. Seaport
applies its proprietary Glyph(TM) platform to overcome those limitations and
invent innovative oral therapies. With an experienced team of industry
leaders, Seaport has a proven track record in neuropsychiatry drug discovery
and development and delivering successful business outcomes. Seaport aims to
develop novel, leading treatment options that will make a significant impact
for patients and their families.

 

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain disclosures that contain "forward-looking
statements," including, without limitation, statements regarding Seaport
Therapeutics' expectations regarding the commencement of trading of its shares
on the Nasdaq Global Select Market, the completion and timing of the closing
of the offering and the anticipated gross proceeds from the offering.
Forward-looking statements are based on Seaport Therapeutics' current
expectations and are subject to inherent uncertainties, risks and assumptions
that are difficult to predict. Factors that could cause actual results to
differ include, but are not limited to, risks and uncertainties related to the
satisfaction of customary closing conditions and the completion of the
offering, and the risks inherent in biopharmaceutical product development.
These and other risks and uncertainties are described more fully in the
section titled "Risk Factors" section of the registration statement filed with
the Securities and Exchange Commission. Forward-looking statements contained
in this announcement are made as of this date, and Seaport Therapeutics
undertakes no duty to update such information except as required under
applicable law. Readers should not rely upon the information on this page as
current or accurate after its publication date.

 

About PureTech Health

PureTech Health is a hub-and-spoke biotherapeutics company dedicated to giving
life to science and transforming innovation into value. We do this through a
proven, capital-efficient R&D model focused on opportunities with
validated pharmacology and untapped potential to address significant patient
needs. This strategy has produced dozens of therapeutic candidates, including
three that have received U.S. FDA approval. By identifying, shaping, and
de-risking these high-conviction assets and scaling them through dedicated
structures backed by external capital, we accelerate their path to patients
while creating sustainable value for shareholders.

 

For more information, visit www.puretechhealth.com or connect with us on
LinkedIn (https://www.linkedin.com/company/puretech-health/) and X (formerly
Twitter) @puretechh.

 

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that are or may be forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. All statements contained in this press release that do not relate to
matters of historical fact should be considered forward-looking statements,
including without limitation, statements regarding Seaport Therapeutics'
expectations regarding the commencement of trading of its shares on the Nasdaq
Global Select Market, the completion and timing of the closing of the offering
and the anticipated gross proceeds from the offering. The forward-looking
statements are based on current expectations and are subject to known and
unknown risks, uncertainties and other important factors that could cause
actual results, performance and achievements to differ materially from current
expectations, including, but not limited to, those risks, uncertainties and
other important factors described under the caption "Risk Factors" in our
Annual Report on Form 20-F for the year ended December 31, 2025, filed with
the SEC and in our other regulatory filings. These forward-looking statements
are based on assumptions regarding the present and future business strategies
of the Company and the environment in which it will operate in the future.
Each forward-looking statement speaks only as at the date of this press
release. Except as required by law and regulatory requirements, we disclaim
any obligation to update or revise these forward-looking statements, whether
as a result of new information, future events or otherwise.

 

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