4D Molecular Therapeutics, Inc. (4DMT), a clinical-stage gene therapy company harnessing the power of directed evolution for targeted gene therapies, announced the pricing of its initial public offering of 8,400,000 shares of its common stock at a public offering price of $23.00 per share. All of the shares are being offered by 4DMT. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by 4DMT, are expected to be $193.2 million. In connection with the offering, 4DMT has granted the underwriters a 30-day option to purchase up to 1,260,000 additional shares of common stock.
Latham & Watkins LLP advised 4D Molecular Therapeutics with a Bay Area corporate team led by Bay Area partners Alan Mendelson and Ben Potter and associate Phillip Stoup, with associates Betsie Stukenborg, Raul Gonzalez and Amanda Dillon. Advice was also provided on benefits and compensation matters by Bay Area partners Jay Metz and Ashley Wagner; on tax matters by Bay Area partner Grace Lee with associate Jeremiah Cowen; on intellectual property matters by Bay Area partner Judith Hasko with associate Jekkie Kim and Peggy Ni; and on regulatory matters by Washington DC partners Ben Haas and Elizabeth Richards and Bay Area counsel Betty Pang with associates Chad Jennings, Margaret Rote and Lacey Henry.