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CURRENT REPORT
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Item 8.01. Other Events
As previously reported by its Current Report on Form 8-K filed with the Securities and Exchange Commission on March 20, 2024, Madrigal Pharmaceuticals, Inc. (the “Company”) issued and sold (i) 750,000 shares of common stock of the Company, $0.0001 par value per share (the “Common Stock”), and (ii) pre-funded warrants to purchase 1,557,692 shares of Common Stock in an underwritten public offering (the “Offering”), pursuant to an Underwriting Agreement (the “Underwriting Agreement”) with Goldman Sachs & Co. LLC, Jefferies LLC, Cowen and Company, LLC, Evercore Group L.L.C. and Piper Sandler & Co, as representatives of the several underwriters named therein (the “Underwriters”).
On March 27, 2024, the Underwriters exercised in-full their option to purchase up to 346,153 additional shares of Common Stock at the public offering price for the Shares of $260.00 per share, less underwriting discounts and commissions (the “Underwriters’ Option”), pursuant to the Underwriting Agreement. The exercise closed on April 2, 2024. The net proceeds to the Company for the exercise of the Underwriters’ Option, after deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company, is expected to be approximately $86.0 million, or approximately $660.0 million in aggregate for the Offering including the exercise of the Underwriters’ Option.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Madrigal Pharmaceuticals, Inc. (the Registrant) | ||||||
| Date: April 2, 2024 | By: | /s/ Mardi C. Dier | ||||
| Mardi C. Dier | ||||||
| Senior Vice President and Chief Financial Officer | ||||||