Graphite Bio Announces Closing of Upsized Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Graphite Bio, Inc. (Nasdaq: GRPH), 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 closing of its previously announced initial public offering of 14,000,000 shares of its common stock at a price to the public of $17.00 per share on June 29, 2021. In addition, on June 29, 2021, the underwriters exercised in full their option to purchase 2,100,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions. The closing of the offering of the additional shares is expected to occur on July 2, 2021.

The aggregate gross proceeds to Graphite Bio from the offering, including the option exercise, will be $273.7 million, before deducting the underwriting discounts and commissions and other offering expenses payable by Graphite Bio. Graphite Bio’s common stock is listed on the Nasdaq Global Market under the ticker symbol “GRPH.”

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 U.S. Securities and Exchange Commission (SEC) and became effective on June 24, 2021. Copies of the registration statements can be accessed through the SEC’s website at www.sec.gov. The offering is being made only by means of a written prospectus, forming a part of the effective registration statements. A copy of the final prospectus relating to the initial public offering may 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 contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will,” and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements.

Any forward-looking statements in this press release are based on Graphite Bio’s current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements, including the completion and timing of the closing of the offering of the additional shares and the anticipated gross proceeds. These risks concerning Graphite Bio’s programs and operations are described in additional detail in its final prospectus for the initial public offering, which is on file with the SEC. Graphite Bio explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.

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