PepGen Inc. announced on November 10, 2026, the launch of a public offering of $125.0 million in shares of its common stock. The offering is being conducted through an underwriting agreement dated November 11, 2026, with Leerink Partners LLC, Stifel, Nicolaus & Company, Incorporated, and Guggenheim Securities, LLC, acting as joint bookrunning managers.
Under the terms of the agreement, PepGen agreed to issue and sell an aggregate of 25,000,000 shares of its common stock at a public offering price of $5.00 per share. The company also granted the underwriters a 30-day option to purchase up to an additional 3,750,000 shares, which would bring the total potential size of the offering to $134.5 million.
The securities are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-296016), initially filed with the SEC on May 18, 2026, and declared effective on May 21, 2026. PepGen estimates that the net proceeds from the sale of the firm shares will be approximately $116.9 million, assuming the underwriters do not exercise their option to purchase additional shares. If the option is exercised in full, the net proceeds would be approximately $134.5 million.
The company intends to use the net proceeds from the offering to fund the ongoing clinical development of its product candidate, as well as for working capital and other general corporate purposes. PepGen expects the offering to close on or about November 13, 2026, subject to customary closing conditions.
