SAN
DIEGO, Aug. 8, 2023 /PRNewswire/ -- Mirati
Therapeutics, Inc. (Nasdaq: MRTX), a commercial stage biotechnology
company, today announced the pricing of an underwritten public
offering of 9,669,631 shares of its common stock at a price to the
public of $27.80 per share, and, to
certain investors, pre-funded warrants to purchase 1,121,736 shares
of common stock at a price of $27.799
per pre-funded warrant, which represents the per share public
offering price for the common stock less the $0.001 per share exercise price for each such
pre-funded warrant . The aggregate gross proceeds to Mirati from
this offering are expected to be approximately $300.0 million, before deducting underwriting
discounts and commissions and estimated offering expenses payable
by Mirati. The offering is expected to close on or about
August 11, 2023, subject to customary
closing conditions. Mirati has also granted the underwriters a
30-day option to purchase up to an additional 1,618,705 shares of
common stock in connection with the public 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 were filed with the SEC and are
available on the SEC's website located at http://www.sec.gov.
Copies of the final 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, statements regarding Mirati's expectations
with respect to the completion and timing of the public offering.
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.