SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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|Item 1.01|| |
Entry into a Material Definitive Agreement.
On January 19, 2021, Syros Pharmaceuticals, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Cowen and Company, LLC and Piper Sandler & Co., as representatives of the several underwriters named therein (the “Underwriters”), relating to an underwritten public offering of 5,400,000 shares (the “Underwritten Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”). All of the Underwritten Shares are being sold by the Company. The public offering price of the Underwritten Shares is $14.00 per share, and the Underwriters have agreed to purchase the Underwritten Shares from the Company pursuant to the Underwriting Agreement at a price of $13.16 per share. After underwriting discounts and commissions and estimated offering expenses, the Company expects to receive net proceeds from the offering of approximately $70.8 million. Under the terms of the Underwriting Agreement, the Company has granted the Underwriters an option, exercisable for 30 days, to purchase up to an additional 810,000 shares of Common Stock (the “Option Shares” and, together with the Underwritten Shares, the “Shares”) at the public offering price less the underwriting discounts and commissions.
The Underwritten Shares and any Option Shares will be issued pursuant to a shelf registration statement on Form S-3 that was filed with the Securities Exchange Commission (“SEC”) on June 12, 2020 and declared effective by the SEC on June 22, 2020 (File No. 333-239141). A prospectus supplement relating to the offering has been filed with the SEC. The closing of the offering is expected to take place on January 22, 2021, subject to customary closing conditions.
A copy of the Underwriting Agreement is attached as Exhibit 1.1 hereto and is incorporated herein by reference. The foregoing description of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to such exhibit.
A copy of the legal opinion and consent of Wilmer Cutler Pickering Hale and Dorr LLP relating to the Shares is attached as Exhibit 5.1 hereto.
|Item 8.01|| |
The full text of the press release announcing the launch of the underwritten public offering on January 19, 2021 is attached as Exhibit 99.1 hereto and is incorporated herein by reference.
The full text of the press release announcing the pricing of the underwritten public offering on January 19, 2021 is attached as Exhibit 99.2 hereto and is incorporated herein by reference.
|Item 9.01|| |
Financial Statements and Exhibits.
|1.1||Underwriting Agreement, dated January 19, 2021, by and among Syros Pharmaceuticals, Inc., Cowen and Company, LLC and Piper Sandler & Co., as representatives of the several underwriters identified therein.|
|5.1||Opinion of Wilmer Cutler Pickering Hale and Dorr LLP.|
|23.1||Consent of Wilmer Cutler Pickering Hale and Dorr LLP (included in Exhibit 5.1).|
|99.1||Press Release issued January 19, 2021.|
|99.2||Press Release issued January 19, 2021.|
|104||Cover Page Interactive Data File (embedded within the Inline XBRL document)|
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 hereunto duly authorized.
|SYROS PHARMACEUTICALS, INC.|
|Date: January 20, 2021||By:|
Gerald E. Quirk
Chief Legal & Administrative Officer