SAN
DIEGO, Aug. 8, 2023 /PRNewswire/ -- Mirati
Therapeutics, Inc. (Nasdaq: MRTX), a commercial stage biotechnology
company, today announced that it intends to offer and sell
$250.0 million of shares of its
common stock, and, to certain investors, pre-funded warrants to
purchase shares of common stock, in an underwritten public
offering. The purchase price of each pre-funded warrant will equal
the price per share at which shares of common stock are being sold
to the public in this offering, minus $0.001, which will be the per share exercise
price of each pre-funded warrant. In addition, Mirati expects to
grant the underwriters of the offering a 30-day option to purchase
up to an additional $37.5 million of
shares at the public offering price, less the underwriting
discounts and commissions. The offering is subject to market and
other conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or
terms of the offering.
Goldman Sachs & Co. LLC is acting as the book-running
manager for the proposed offering. Leerink Partners LLC is acting
as financial advisor for the proposed offering.
The securities described above are being offered pursuant to a
shelf registration statement filed by Mirati with the Securities
and Exchange Commission ("SEC") that became automatically effective
upon filing. A preliminary prospectus supplement and accompanying
prospectus relating to the offering will be filed with the SEC and
will be available on the SEC's website located at
http://www.sec.gov. Copies of the preliminary prospectus supplement
and the accompanying prospectus relating to the offering, when
available, may be obtained from Goldman Sachs & Co. LLC,
Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at
(866) 471-2526, or by email at prospectus-ny@ny.email.gs.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
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Mirati Therapeutics, Inc.
Mirati Therapeutics, Inc. is a commercial stage biotechnology
company whose mission is to discover, design and deliver
breakthrough therapies to transform the lives of patients with
cancer and their loved ones. The company is relentlessly focused on
bringing forward therapies that address areas of high unmet need,
including lung cancer, and advancing a pipeline of novel
therapeutics targeting the genetic and immunological drivers of
cancer. Unified for patients, Mirati's vision is to unlock the
science behind the promise of a life beyond cancer.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995. Any statements in this press release that are not historical
facts may be considered "forward-looking statements," including,
without limitation, Mirati's expectations with respect to the size,
completion and timing of the public offering and the grant of the
option to the underwriters. Forward-looking statements are
typically, but not always, identified by the use of words such as
"may," "will," "would," "believe," "intend," "plan," "anticipate,"
"estimate," "expect," and other similar terminology indicating
future results. Forward-looking statements are based on current
expectations of management and on what management believes to be
reasonable assumptions based on information currently available to
them, and are subject to risks and uncertainties. Such risks and
uncertainties may cause actual results to differ materially from
those anticipated in the forward-looking statements. Such risks and
uncertainties include without limitation those associated with
market risks and uncertainties and the satisfaction of customary
closing conditions for an offering of securities, as well as other
risks detailed in Mirati's recent filings on Forms 10-K and 10-Q
with the SEC. Except as required by law, Mirati undertakes no
obligation to update any forward-looking statements to reflect new
information, events or circumstances, or to reflect the occurrence
of unanticipated events.
Mirati Contacts
Investor Relations: ir@mirati.com
Media Relations: media@mirati.com
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SOURCE Mirati Therapeutics, Inc.