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Proteostasis Therapeutics, Inc. Announces Closing of Initial Public Offering

CAMBRIDGE, Mass., Feb. 18, 2016 (GLOBE NEWSWIRE) -- Proteostasis Therapeutics, Inc. today announced the closing of its initial public offering of 6,250,000 shares of common stock at a public offering price of $8.00 per share. All of the shares sold in the offering were offered by Proteostasis Therapeutics, Inc. The company’s shares began trading on the NASDAQ Global Market on February 11, 2016 under the ticker symbol “PTI.” The gross proceeds from the offering are $50.0 million, before deducting underwriting discounts and commissions and expenses associated with the offering payable by the company.

Leerink Partners and RBC Capital Markets acted as joint book-running managers. Baird and H.C. Wainwright & Co. acted as co-managers.

A registration statement relating to the securities being sold in the offering was declared effective by the Securities and Exchange Commission on February 10, 2016. This offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained by contacting: Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by email at syndicate@leerink.com, or by phone at (800) 808-7525, ext. 6142; or RBC Capital Markets, LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281, Telephone: (877) 822-4089, Email: equityprospectus@rbccm.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.

Media Contact: Dan Budwick, Pure Communications dan@purecommunicationsinc.com 973-271-6085 Investor Contact: Luke Heagle, Pure Communications luke@purecommunicationsinc.com 910-726-1372

Source:Proteostasis Therapeutics, Inc