Silence Therapeutics plc Announces Underwritten ADS Offering Priced at $13.50

What Happened

• Silence Therapeutics plc (SLN) filed an 8-K reporting that on August 11, 2026 it entered an underwriting agreement with Jefferies LLC and Morgan Stanley & Co. LLC to sell 12,962,963 American Depositary Shares (ADSs), each ADS representing three ordinary shares. The public offering price is $13.50 per ADS; the underwriters will purchase the ADSs from the company at $12.69 per ADS. The company also granted the underwriters a 30-day option to buy up to an additional 1,944,444 ADSs.
• The company issued press releases announcing the commencement of the offering on August 10, 2026 and the pricing on August 11, 2026. Closing of the offering is expected on August 13, 2026, subject to customary conditions.

Key Details

• Offering size: 12,962,963 ADSs; option for additional 1,944,444 ADSs (30 days).
• Price to public: $13.50 per ADS; price to underwriters: $12.69 per ADS.
• Estimated net proceeds: approximately $164.0 million (about $188.7 million if the underwriter option is fully exercised), after fees and expenses.
• Underwriters: Jefferies LLC and Morgan Stanley & Co. LLC; legal opinion from Cooley (UK) LLP filed as Exhibit 5.1.

Why It Matters

• The transaction is a capital-raising event: if completed, the offering will provide Silence Therapeutics with roughly $164M in new cash (before any option exercise), which can fund operations, development programs, or other corporate needs.
• The deal is subject to closing conditions and contains customary representations and indemnities; stated proceeds are estimates and forward-looking, so actual results may differ. Investors should consider this financing alongside the company’s cash needs, pipeline progress, and disclosures in recent SEC filings.