Graphite Bio Announces Pricing of Upsized Initial Public Offering

Graphite Bio, Inc., a clinical-stage, next-generation gene editing company focused on therapies that harness targeted gene integration to treat or cure serious diseases, today announced the pricing of its upsized initial public offering of 14,000,000 shares of its common stock at a price to the public of $17.00 per share. All of the shares of common stock are being offered by Graphite Bio. The gross proceeds to Graphite Bio from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Graphite Bio, are expected to be $238.0 million. In addition, Graphite Bio has granted the underwriters a 30-day option to purchase up to an additional 2,100,000 shares of its common stock at the initial public offering price, less underwriting discounts and commissions.

The shares are expected to begin trading on the Nasdaq Global Market on June 25, 2021 under the ticker symbol “GRPH.” The offering is expected to close on June 29, 2021, subject to customary closing conditions.

Morgan Stanley, BofA Securities, Cowen and SVB Leerink are acting as joint book-running managers for the offering.

Registration statements relating to these securities were filed with the Securities and Exchange Commission and became effective on June 24, 2021. This offering is being made only by means of a prospectus. Copies of the registration statements can be accessed through the Securities and Exchange Commission’s website at www.sec.gov. Copies of the final prospectus relating to the initial public offering, when available, can be obtained from: Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, or by email at dg.prospectus_requests@bofa.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY, 11717, by telephone at (833) 297-2926, or by email at PostSaleManualRequests@broadridge.com; or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@svbleerink.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction where such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Graphite Bio

Graphite Bio is a clinical-stage, next-generation gene editing company harnessing high efficiency targeted gene integration to develop a new class of therapies to potentially cure a wide range of serious and life-threatening diseases. Graphite Bio is pioneering a precision gene editing approach that could enable a variety of applications to transform human health through its potential to achieve one of medicine’s most elusive goals: to precisely “find & replace” any gene in the genome. Graphite Bio’s platform allows it to precisely correct mutations, replace entire disease-causing genes with normal genes or insert new genes into predetermined, safe locations. The company was co-founded by academic pioneers in the fields of gene editing and gene therapy, including Maria Grazia Roncarolo, M.D., and Matthew Porteus, M.D., Ph.D.

Forward-Looking Statements

This press release includes certain disclosures that contain “forward-looking statements,” including, without limitation, statements regarding Graphite Bio’s expectations regarding the commencement of trading of its shares on the Nasdaq Global Market, the completion and timing of the closing of the offering and the anticipated gross proceeds from the offering. Forward-looking statements are based on Graphite Bio’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to the satisfaction of customary closing conditions and the completion of the offering, and the risks inherent in biopharmaceutical product development and clinical trials. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” set forth in Graphite Bio’s filings with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Graphite Bio undertakes no duty to update such information except as required under applicable law.

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