Erasca, Inc. entered into an underwriting agreement with J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Jefferies LLC, and Evercore Group L.L.C. to issue and sell 31,428,572 shares of common stock at a public offering price of $17.50 per share. The underwriters will purchase the shares from the company at $16.45 per share, and the company has granted a 30-day option for the underwriters to purchase an additional 4,714,285 shares. Net proceeds are expected to be approximately $516.0 million, or approximately $593.5 million if the option is exercised in full. Erasca, Inc. is a biotechnology company focused on developing oncology-related therapies.
