February 26, 2019 1:40pm

Expecting to raise $500 M

SAGE is down -$6.71 or 4.09% to $152.66

The offering is expected to close on or about February 27, 2019

With a cash position of $1.02 B, $90 M in revenue and a 52 week change of -4.84%

SAGE priced an underwritten public offering of 3,333,334 shares of its common stock at a public offering price of $150.00 per share.

The gross proceeds to SAGE from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $500 million.

The offering is expected to close on or about February 27, 2019, subject to the satisfaction of customary closing conditions. In addition, Sage has granted the underwriters a 30-day option to purchase up to an additional 500,000 shares of its common stock.


Some stats:

A 52 week high of $188.82

A float of 45.26 M shares with 47.09 M shares outstanding

% short of shares outstanding = 8.68%

% short of float = 12.45%


Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering.