BOULDER, Colo.--(BUSINESS WIRE)--
Clovis Oncology, Inc. (NASDAQ: CLVS) announced today the pricing of an
underwritten public offering of 5,000,000 shares of its common stock at
$41.00 per share, before underwriting discounts and commissions. The
size of the offering was upsized from $175 million to $205 million. In
addition, the underwriters have a 30-day option to purchase up to an
additional 750,000 shares of common stock from Clovis Oncology on the
same terms and conditions.
The offering is expected to close on January 9, 2017, subject to
customary closing conditions.
Clovis Oncology intends to use the net proceeds of the offering for
general corporate purposes, including commercial planning and sales and
marketing expenses associated with the launch of Rubraca™ (rucaparib) in
the United States and, if approved by the European Medicines Agency
(EMA), in Europe, funding of its development programs, general and
administrative expenses, acquisition or licensing of additional product
candidates or businesses and working capital.
J. P. Morgan Securities LLC and BofA Merrill Lynch are acting as joint
book-running managers for the offering. Stifel and SunTrust Robinson
Humphrey are acting as co-managers for the offering.
The shares of Clovis Oncology common stock described above are being
offered only by means of a prospectus supplement and related prospectus
pursuant to an effective shelf registration statement previously filed
with the Securities and Exchange Commission. Copies of the final
prospectus supplement, when available, and related prospectus relating
to this offering may be obtained from J. P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY
11717 or by calling toll-free (866) 803-9204, or from BofA Merrill
Lynch, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC
28255-0001, Attn: Prospectus Department, or by email to [email protected].
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor will 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.
About Clovis Oncology
Clovis Oncology, Inc. is a biopharmaceutical company focused on
acquiring, developing and commercializing innovative anti-cancer agents
in the U.S., Europe and additional international markets. Clovis
Oncology targets development programs at specific subsets of cancer
populations, and simultaneously develops diagnostic tools that direct a
compound in development to the population that is most likely to benefit
from its use. Clovis Oncology is headquartered in Boulder, Colorado.
To the extent that statements contained in this press release are not
descriptions of historical facts regarding Clovis Oncology, they are
forward-looking statements reflecting the current beliefs and
expectations of management made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve substantial risks and uncertainties
that could cause our actual results, performance or achievements to
differ significantly from those expressed or implied by the
forward-looking statements. Such risks and uncertainties include, among
others, the timing and size of the offering, the conditions affecting
the capital markets, general economic, industry, or political
conditions, and the satisfaction of customary closing conditions related
to the proposed public offering. Clovis Oncology undertakes no
obligation to update or revise any forward-looking statements. For a
further description of the risks and uncertainties that could cause
actual results to differ from those expressed in these forward-looking
statements, as well as risks relating to the business of the company in
general, see the prospectus supplement and related prospectus for this
offering as well as Clovis Oncology's Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q and its other reports filed with the
Securities and Exchange Commission.
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