Five Prime Announces Pricing of Upsized Public Offering of Common Stock
13 Novembro 2020 - 12:00AM
Business Wire
Five Prime Therapeutics, Inc. (Nasdaq: FPRX), announced today
the pricing of an underwritten public offering of 7,200,000 shares
of its common stock at a price to the public of $21.00 per share.
The size of the offering was upsized from 5,000,000 shares to
7,200,000 shares. Five Prime estimates that the net proceeds from
the sale of the shares will be approximately $141.9 million, after
deducting underwriting discounts and commissions and estimated
offering expenses payable by Five Prime. In addition, Five Prime
has granted the underwriters in the offering a 30-day option to
purchase up to 1,080,000 additional shares of common stock at the
public offering price. The offering is expected to close on
November 17, 2020, subject to customary closing conditions.
Five Prime plans to use the net proceeds of the offering,
together with other available funds, to fund ongoing clinical
development of bemarituzumab and FPT155, to advance FPA157 through
preclinical and into clinical development, to advance its
late-stage research programs and for working capital and general
corporate purposes.
Cowen and SVB Leerink are acting as joint book-running managers
for the offering. Wedbush PacGrow is acting as co-manager for the
offering.
The shares of common stock are being offered pursuant to a
“shelf” registration statement previously filed with and declared
effective by the Securities and Exchange Commission (SEC). Five
Prime has filed a preliminary prospectus supplement and the
accompanying prospectus related to the offering with the SEC, which
are available on the SEC’s website, located at www.sec.gov. Copies
of the final prospectus supplement relating to this offering, when
available, and the accompanying prospectus may be obtained from:
Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus
Department, 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. 6132 or by
e-mail at syndicate@svbleerink.com.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Words such as "may," "will," "expect," "plan," "anticipate,"
"estimate," "intend" and similar expressions (as well as other
words or expressions referencing future events, conditions or
circumstances) are intended to identify forward-looking statements.
Forward-looking statements contained in this press release include
statements relating to Five Prime’s expectations regarding the
completion of the proposed public offering, the net proceeds of the
offering and Five Prime’s planned use of the proceeds from the
proposed public offering. These forward-looking statements are
based on Five Prime's expectations and assumptions as of the date
of this press release. Actual results may differ materially from
these forward-looking statements. Each of these forward-looking
statements involves risks and uncertainties. These risks and
uncertainties include, without limitation, risks and uncertainties
related to market conditions and satisfaction of customary closing
conditions related to the proposed public offering. There can be no
assurance that Five Prime will be able to complete the offering on
the anticipated terms, or at all. Other factors that may cause
actual results to differ from those expressed or implied in the
forward-looking statements in this press release are discussed in
Five Prime’s filings with the U.S. Securities and Exchange
Commission, including under the heading “Risk Factors” contained
therein, as well as the risks identified in the registration
statement and the preliminary prospectus supplement relating to the
offering. Except as required by law, Five Prime assumes no
obligation to update any forward-looking statements contained
herein to reflect any change in expectations, even as new
information becomes available.
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version on businesswire.com: https://www.businesswire.com/news/home/20201112006151/en/
Martin Forrest VP, Investor Relations & Corporate
Communications Five Prime Therapeutics, Inc. 415-365-5625
martin.forrest@fiveprime.com
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